Purpose of Marketing Research

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Marketing research is defined as the gathering, and analysing of data about problems relating to the marketing of goods and services.
Marketing research can serve a number of purposes, including giving a business a better understanding of customer , reducing the risk of product and helping to predict future . It can be used to find out information about the product itself and the market in which it operates, as well as about the promotion and of that product.
Marketing research needs to be carried out regularly, if not continuously, because the environment in which business organisations operate is subject to change. The reasons for this dynamic environment may include changes in consumer , changes in technology, changes in the product of rival firms and changes in conditions
Market research is the process of identifying primary and secondary information about the demand for a product, whereas research is a much broader process involving product testing, and consumer reactions to changes in prices and promotion.
Before marketing research can be carried out, the problem must be defined and the established. The next step is to develop a which determines what data will be used and how the data will be collected. If primary research is required it may be necessary to take a sample of the population as a whole - this will involve drawing up a sampling . It will also be necessary to establish a budget and to ensure that the research is completed on time and within agreed costs.

research involves gathering statistical or numerical information, such as the size of the market. It is usually obtained by conducting large scale surveys. research, on the other hand, is concerned with people’s opinions, views and motivations and is usually obtained via focus groups or in-depth interviewing.