Introduction to marketing research

Marketing research is the function that links the consumer, customer and public to the
marketer through information i.e. the information used to identify and define marketing
opportunities and problems; generate, refine and evaluate marketing actions and monitor
marketing performance. Marketing research provides support to marketing decision-makers
by helping to describe the nature and scope of customer groups, understand the nature of
forces which shape the needs of consumer groups and the marketer’s ability to satisfy those
groups and monitor and reflect upon past structures and failures in marketing decisions. The
overall purpose of marketing research is to assess information needs and provide relevant
information in a systematic and objective manner to improve marketing decision making.

The marketing research process consists of broadly six steps which are:

Problem definition, Research approach development, Research design formulation, Data

collection, Data preparation and analysis and Report preparation and presentation. Within
these mentioned steps are many iterations and routes that can be followed. In general
marketing research can be classified into problem identification research and problem solving
research.

Marketing research may be conducted internally or may be purchased from external

suppliers. Full service providers in this segment provide the entire range of marketing
research services, from problem definition to report preparation and presentation. Limited-
service suppliers specialise in one or a few phases of marketing research project such as field
services, coding and data entry, data analysis, analytical services or branded products. Also,
marketing research is not a panacea for all marketing problems as there are instances where
marketing research has not adequately supported decision-makers. Many of the problems
that arise from poor marketing research derive from poor communications between decision-
makers and researchers. So in order to resolve these problems, there are growing demands
upon the marketing research industry to produce the research findings that are more
actionable and relevant to marketing decision makers. Also having the technical skills to
conduct research in a professional and ethical manner, marketing researchers are increasingly
expected to have the ability to interpret their findings in a manner that is relevant to decision
makers.

International marketing research can be much more complex than a domestic research
because the researcher must consider the environments prevailing in the international
markets being researched. Research is founded upon the willing cooperation of the public
and of business organizations. Ethical marketing research practice nurture that cooperation,
allowing a more professional approach and more accurate research information. Also,
marketing research makes extensive use of the great opportunities afforded by the internet
but also at the same time there are many competitive threats to the marketing research
industry that have been exacerbeted by the internet.
Defining the marketing research problem and developing a research approach

Marketing research is six steps process which is as follows:

1. Problem identification
2. Research approach development
3. Research design developed
4. Data collection
5. Data analysis
6. Report presentation

Problem identification: A broad statement of the general problem and identification of the
specific components of the marketing research problem. It is the foremost and most
important step before conducting any market research study.

Marketing research brief: It is a document prepared by the users of research finding or the
buyers of a piece of marketing research. The purpose of the brief can be stated as follows:

● It makes the initiator of the brief more certain of how the information to be collected will
support decision making.

● It ensures an amount of agreement or cohesion among all parties who may benefit from
the research findings.

● It helps both the marketer and the researcher to plan and implement the research design.

● It helps to reduce disputes that can occur when the gaps in marketers’ knowledge are not
‘filled ‘as intended.

● It can form the basis for negotiation with a variety of research organisations.

Components of market research brief:

1. Background information: The background serves to put research objectives into

context, helping the researcher to understand why certain research objectives are
being pursued
2. Objectives: The first part of this section would detail which marketing decisions are to
be completed once the research has been undertaken.
 3. Target to research.: Any marketing research project will measure, understand or
observe a target group of individuals
4. Who is to use the findings: This section would outline brief details of the decision
makers who will use the research findings.
5. Constraints: The main limitation to marketing researchers carrying out what they may
perceive as being the correct way to research a problem is the time and money that a
marketer can afford.
6. Administrative considerations: These would lay out administrative details in
completing the research project.
While preparing the reported approach may consist of the framework, analytical models,
research question and hypothesis. The most common type of model is graphical, verbal and
mathematical.
The research questions are refined statements of the specific components of the problem
that ask what specific information is required concerning the problem component. When
developing an approach, the differences in the environment prevailing in the domestic
market and the foreign markets should be carefully considered. The ethical issue can be
resolved by adhering to seven c’s
1. Communication
2. Cooperation
3. Confidence
4. Candour
5. Closeness
6. Continuity
7. Creativity

By: Group 1 (Sec B)

Vipin Kesarwani (2018PGP098)

Shivang Sharma (2018PGP089)

Mayank Verma (2018PGP079)
Suraj Kandoi (2018PGP096)
Siddharth Kaushik (2018PGP090)