NATURE OF MARKETING RESEARCH | NATURE OF RESEARCH | MEANING OF MARKETING RESEARCH
Marketing research can be better understood in the light of basic marketing process. It is on the identification and satisfaction of customer needs. Marketing is restless, changing and a dynamic field. The task of marketing research is to access the information needs. Its also provide management with relevant, accurate, reliable, valid and current information.
Tracking study: A tracking study is a periodic survey of pre-recruited consumers who record their use of various products or services, Specific preferences compared to evaluate changes in perceptions, preferences and actual usage over time.
Concept/product testing: a concept of a product test consists of evaluating consumer response to a new product or concept. This is a part of the test market in the development of a new product. Additionally, It is also helpful to determine how a product or service that can get the best position in a particular sector of the marketplace.
Product/brand service usage:Product or brand usage studies serve to determine the current demand for the various brands of a product or service. This type of approach may also determine which brand name has primary awareness in the consumer’s minds.
Advertisement entrance: This analysis and evaluate the message that is helpful to communicate with the target audience. This type of study serves to determine if the intended message is understood, how solid it is.
Image evaluation:Image studies provide feedback relatives to the image of a company, product or service has in the eyes of consumers. Image studies may reveal attribute perception of a particular brand or determine its strengths and weaknesses.
Public opinion surveys:It determines the key issues in the minds of the public or specific customers, relative to specific issues, individuals, or business sector.
Copy testing: Copy testing allows for an evaluation of consumer response to ad copy. It determines how well the intended message is give to another. Copy tests ensure the wording used inconsistently with the language of the target audience.
Test marketing:Test marketing or product placements are a bit more extensive than product tests. Product tests take place in a controlled setting. Like a shopping mall where consumers are come to rest a product. In a product placement study, the product is to test market is place in the home of the consumer. It’s for a specific period of time.
Taste tests: It is that an environment where consumers are check taste of a product and give their evaluations. Taste test serves to determine the acceptance of a product without or packaging appeals relatives to some attributes.
Marketing segmentation:This study determines how a market is a segment by product usage, demand pr customer profits, These studies usually develop demographic, psychographic, product preferences and as well as lifestyles profiles of key market segments.
Media measurement:These studies determine what share of the market the medium being that actually has. how a target market is in demographically and as well as psychographically. Media studies also evaluate preferences in programming as well as promotion appeals that are most effective in reaching.
Market feasibility:A market feasibility analyzes the market demand for a new product, brand or service. This type of study usually for a new product, brand or services. This type of study usually evaluates the potential market size. What market dynamics interact, and what market segment might be most receptive to the introduction of new product.
Market shares: This study determine what product purchase at what volume and the actual size of sales be realize by each competitor that is the part of market share.
Positioning studies:This evaluates how leading companies or brands are viewd in the minds of consumers concerning key products or image attribute. This type of study will evaluate strangers and weaknesses of each.
Consumer satisfaction studies: It evaluates the level of satisfaction existing customers have with the products/services of a company or organization. The basic philosophy is that it is cheaper to keep an existing customer than try to attract a new one.