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Market characteristics

 

Marketing research

from wikipedia

Marketing research is objective. It attempts to provide accurate information that reflects a true state of affairs.It should be conducted impartially. While research is always influenced by the researcher's research philosophy,it should be free from the personal or political biases of the researcher or the management.Research which is motivated by personal or political gain involves a breach of professional standards.Such research is deliberately biased so as to result in predetermined findings.The motto of every researcher should be, "Find it and tell it like it is."The objective nature of marketing research underscores the importance of ethical considerations,which are discussed later in the chapter. Find information about affordable Health Insurance plans from InsureLane

 

Role of marketing research

 

The task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information. Competitive marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment. Marketing managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control. These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers' response to marketing programs cannot be predicted reliably or accurately.   security guard

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