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    Market Research

    Uploaded by

    Farida Mandviwala
    This document provides an overview of market research. It defines market research as the systematic process of gathering data about consumer preferences for products, producers, and necessary changes to marketing strategies. The objectives of market research include measuring consumer purchasing power, evaluating competitors, informing sales promotion, and deciding advertising approaches. Market research is important as it helps with sales forecasting, product development, solving marketing problems, and making authentic decisions. The scope of market research encompasses consumer research, product research, competition research, sales research, and advertising research. Finally, the document outlines the procedure for conducting market research, which involves determining objectives, planning investigations, collecting and analyzing data, interpreting conclusions, and implementing recommendations.

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    © All Rights Reserved
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    Market Research

    Uploaded by

    Farida Mandviwala
    374 views10 pages
    This document provides an overview of market research. It defines market research as the systematic process of gathering data about consumer preferences for products, producers, and necessary changes to marketing strategies. The objectives of market research include measuring consumer purchasing power, evaluating competitors, informing sales promotion, and deciding advertising approaches. Market research is important as it helps with sales forecasting, product development, solving marketing problems, and making authentic decisions. The scope of market research encompasses consumer research, product research, competition research, sales research, and advertising research. Finally, the document outlines the procedure for conducting market research, which involves determining objectives, planning investigations, collecting and analyzing data, interpreting conclusions, and implementing recommendations.

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    Commerce and Marketing

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    This document provides an overview of market research. It defines market research as the systematic process of gathering data about consumer preferences for products, producers, and necessary changes to marketing strategies. The objectives of market research include measuring consumer purchasing power, evaluating competitors, informing sales promotion, and deciding advertising approaches. Market research is important as it helps with sales forecasting, product development, solving marketing problems, and making authentic decisions. The scope of market research encompasses consumer research, product research, competition research, sales research, and advertising research. Finally, the document outlines the procedure for conducting market research, which involves determining objectives, planning investigations, collecting and analyzing data, interpreting conclusions, and implementing recommendations.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    374 views10 pages

    Market Research

    Uploaded by

    Farida Mandviwala
    This document provides an overview of market research. It defines market research as the systematic process of gathering data about consumer preferences for products, producers, and necessary changes to marketing strategies. The objectives of market research include measuring consumer purchasing power, evaluating competitors, informing sales promotion, and deciding advertising approaches. Market research is important as it helps with sales forecasting, product development, solving marketing problems, and making authentic decisions. The scope of market research encompasses consumer research, product research, competition research, sales research, and advertising research. Finally, the document outlines the procedure for conducting market research, which involves determining objectives, planning investigations, collecting and analyzing data, interpreting conclusions, and implementing recommendations.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 10
    At a glance
    Powered by AI
    The key takeaways are the meaning, objectives, importance, scope and procedure of market research.

    The objectives of market research are to measure consumers purchasing power, judge the strength of competitors, sales promotion, decide the medium of advertisement, modernize the organization, produce new products, increase export and have knowledge about customers' preferences.

    The importance/benefits of market research are helpful in sales forecasting, product development and planning, solving marketing problems, increases market efficiency, authenticity of decisions, useful in pricing decisions and acts as a link between producer and consumer.

    MARKET

    RESEARCH

    Presented By:
    Prof. Farida R Mandviwala

    MARKET RESEARCH

    Meaning of Market Research

    Objective of Market Research

    Importance of Market Research

    Scope of Market Research

    Procedure of Market Research

    DEFINATION OF MARKET RESEARCH

    Market research means a definite process of gathering data as to which


    are the products which people prefer the most,
    Who are the producers of these products,
    What changes are necessary to make their products
    more preferable and gratifying,
    How
    far the marketing and sales promotion
    policies pertaining to these products have been
    effective and what changes are necessary to make
    these policies more fruitful.

    Marketing research is the systematic gathering,


    recording and analyzing of data about problems
    relating to the marketing of goods and services.
    American Market Association
    3

    OBJECTIVES OF MARKET RESEARCH


    1.

    To measure consumers purchasing power.


    - securing information about no. of buyers in different market
    segments.
    - purchasing power of these buyers.
    - the size of purchases by them.

    2.

    To judge the strength of competitors.


    - conducted to find out main competitors in the market.
    - the nature of their products,
    - prices at which they sell,
    - the media of publicity they adopt,
    - the channels of distribution they employ.
    4

    3.

    For Sales Promotion


    - undertaken to promote sales of the product
    - to obtain information about current level of market
    demand
    - degree of competition in the market,
    - customers needs,
    - publicity and its impact
    - packing and its attractiveness etc.

    4.

    To decide the medium of advertisement

    5.

    To modernize the organization

    6.

    For production of a New Products

    7.

    To increase export

    8.

    To have knowledge about Customers Preferences

    9.

    For the improvement in the quality of the product.

    10. To find out the reasons for decline in sales


    11. To prepare sales budget

    IMPORTANCE/BENEFIT OF MARKET RESEARCH

    Helpful in Sales forecasting

    Helpful in Product development and planning

    Helpful in solving marketing problems

    Increases market efficiency

    Authenticity of decisions

    Useful in pricing decisions

    Link between Producer and Consumer


    7

    SCOPE OF MARKET RESEARCH


    Consumer
    Research

    Product
    Research

    Competition
    Research

    Sales
    Research

    Advertising
    Research

    PROCEDURE OF MARKET RESEARCH

    To determine
    research.

    the

    problems/objectives

    of

    To overcome the situation.

    To carry on informal investigation

    Planning of final investigation

    Collecting necessary data

    Tabulating, Analyzing and Interpreting the data.

    Interpreting the conclusions.

    Preparing Research Report.

    Implementing Recommendations effectively

    market

    09-Sept-11

    10

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