Marketing Research is one of the most important concepts under marketing which inculcate as a linkage function between the society of the customers as well as the society of manufacturers and service providers. Marketing research is done to identify the marketing opportunities, existing threats, and problems. Marketing research is necessary for collecting data making strategies models analyzing the result and presenting the findings and conclusions.
The next important thing that comes under marketing research is marketing insights. Insights play a crucial role in marketing success. companies like Procter and Gamble have a brand named “Pantene” that conducted market research regarding women’s feelings about their hair, EEG research to measure brain waves. After conducting this market research Pantene redesigned its packaging and also launch various ad campaigns. One another example that shows the importance of marketing inside is when Tropicana redesigned its packaging and it changed the image of the packaging. tropic and are dropped the image of an orange skewered when we talk about marketing research one question pops up “who does the marketing research?”
Marketing research is usually done by engaging students and professors or any intellect to design and carry out various advertisement campaigns and numerous projects. Use of the internet we can collect a considerable amount of information efficiently. Small Scale Businesses mostly check out upon their competitors to learn about upgrades and strategies.
The process followed to carry out the marketing process is first to define the problem select the decision alternative and Research objective. The second is developing the research plan which includes research approaches like observational research and the ethnographic research approaches Focus Group research, survey research behavioral research. The third is to collect information followed by an analysis of information. The last step includes presenting them to make a decision.