Marketing Inquiry Mr Concept, Marketing Inquiry Process

1. Introduction to Marketing Research

The term marketing enquiry is used extensively inwards modem marketing management. It acts equally a tool for accurate conclusion making equally regards marketing of goods in addition to services. It is also useful for studying in addition to solving dissimilar marketing problems inwards a systematic in addition to rational manner.

Research way detailed, systematic in addition to comprehensive study of a problem. Here, the details of the marketing problems are collected in addition to studied, conclusions are drawn in addition to suggestions (recommendations) are made to solve the problems quickly, correctly in addition to systematically. In marketing research, marketing job is studied inwards depth in addition to solutions are suggested to solve the job relating to consumers, product, marketplace competition, sales advertisement in addition to and so on.

MR is a special branch of marketing management. It is comparatively recent inwards origin. MR acts equally an investigative arm of a marketing manager. It suggests possible solutions on marketing problems for the consideration in addition to choice past times a marketing manager.

2. Definitions of Marketing Research

1. According to American Marketing Association (AMA), MR is "The systematic gathering, recording, in addition to analyzing of information nearly problems relating to the marketing of goods in addition to services."
2. According to Richard D. Crisp, MR is "The systematic, objective in addition to exhaustive search for in addition to study of the facts relevant to whatever job inwards the land of marketing."
3. According to Philip Kotler, "Marketing enquiry is systematic job analysis, model edifice in addition to fact-finding for the role of improved decision-king in addition to command inwards the marketing of goods in addition to services."

3. Features of Marketing Research

1. Systematic in addition to continuous activity/process : MR is a continuous process. This is natural equally novel marketing problems are saltation to come upwards from time-to-time inwards the course of education of marketing of goods in addition to services. One type of enquiry is non adequate to resolve all marketing problems. Similarly, novel enquiry projects volition receive got to last undertaken to solve novel marketing problems in addition to challenges.
2. Wide in addition to comprehensive inwards orbit : Marketing enquiry is broad inwards orbit equally it deals amongst all aspects of marketing of goods in addition to services. Introduction of novel products, identification of potential markets, choice of appropriate selling techniques, study of marketplace contest in addition to consumer preferences, introduction of suitable advertising strategy in addition to sales advertisement measures, are unopen to areas covered past times MR.
3. Emphasizes on accurate information collection in addition to critical analysis : In marketing research, suitable information should last collected objectively in addition to accurately. The information collected must last reliable. It should last analyzed inwards a systematic manner. This volition provide comprehensive painting present of the province of affairs in addition to possible solutions.
4. Offers benefits to the fellowship in addition to consumers : Marketing enquiry is useful to the sponsoring company. It raises the turnover in addition to earnings of the company. It also raises the competitive capacity in addition to creates goodwill inwards the market. It enables a fellowship to innovate consumer-oriented marketing policies. Consumers also larn agreeable goods in addition to to a greater extent than satisfaction due to marketing enquiry activities.
5. Commercial equivalent of state of war machine word : MR is a type of commercial word activity. It facilitates planned activities inwards the land of marketing. It is similar to state of war machine word where systematic study of the province of affairs is made earlier taking whatever state of war machine action. Marketing enquiry acts equally the word tool of management.
6. Tool for managerial decisions : MR acts equally a tool inwards the hands of management for identifying in addition to analyzing marketing problems in addition to finding out solutions to them. It is an help to decision-making. It suggests possible solutions for the consideration in addition to choice past times managers. Marketing research, is an help to judgment in addition to never a substitute for it.
7. An applied enquiry : MR is applied knowledge. It is concerned amongst specific marketing job in addition to suggests alternative solutions in addition to possible outcome of each alternative.
8. Reduces the gap betwixt the producers in addition to consumers : MR is an essential supplement of competitive marketing. It is useful for agreement the needs in addition to expectations of consumers. It reduces the gap betwixt producers in addition to consumers in addition to adjusts the marketing activities to suit the needs of consumers.
9. Marketing enquiry has limitations : Marketing enquiry is non an exact science. It only suggests possible solutions to marketing director for consideration in addition to selection.
10. Use of dissimilar methods : MR tin last conducted past times using dissimilar methods. Data tin last collected through survey or past times other methods. The researcher has to create upwards one's hear the method which is suitable for the conduct of enquiry project. This choice is of import equally the character of enquiry function depends on the method used for the enquiry purpose.

4. Steps In Marketing Research Process

1. Identifying in addition to defining a marketing job : The showtime stride inwards the marketing enquiry physical care for is to set the marketing job which needs to last solved quickly. The job may last related to product, price, marketplace competition, sales advertisement in addition to and so on. The enquiry physical care for volition begin only when the marketing job is identified in addition to defined clearly. The researcher has to set in addition to define the marketing job inwards a clear manner.
2. Conducting a preliminary exploration (survey) : The marketing squad may propose many marketing problems which they face. However, it is non possible to select upwards all such problems for enquiry purpose. The researcher has to study such problems in addition to select 1 major job which is suitable for detailed investigation. For this, preliminary investigation is necessary. H5N1 sales director may propose a job of declining sales. The researcher has to discovery out the possible reasons in addition to which 1 is the most of import in addition to also suitable for detailed study. Marketing problems are non researchable in addition to thus such preliminary exploration is necessary in addition to useful.
3. Determining enquiry objectives : The researcher has to formulate hypothesis to friction match the job nether investigation. It is a tentative explanation of a job nether study. For example, the sales are declining. According to the researcher, this may last due to misfortunate character in addition to high cost or due to express involvement taken past times middlemen or that the production has travel outdated. If the showtime argue is accepted, the same volition last investigated inwards full. If the showtime motion is rejected, he volition displace to the 2nd for detailed study through information collection.
4. Determining the information required in addition to their sources : In this stage, the researcher has to create upwards one's hear the type of information required for his study purpose. The hypothesis guides the information collection process. The researcher tin occupation primary and/or secondary information for his enquiry project. The sources of primary in addition to secondary information are different. Similarly, for the collection of primary data, whatever 1 method such equally mail survey or telephone survey, or personal interview or observation or experimentation method tin last used. The researcher has to create upwards one's hear the method which is convenient for information collection in addition to collect the required information accordingly.
5. Creating enquiry pattern : Research pattern is the programme for the conduct of actual enquiry investigation. Such pattern provides guideline for the researcher to travel along a runway on his actions in addition to to know that he is moving inwards the right management on information collection.
   The enquiry pattern contains answers to the next questions:
   
   1. What is the nature in addition to role of study?
   2. What type of information is required?
   3. How to collect required data?
   4. What is the technique of information collection?
   5. How much funds volition last required?
   6. How much time/period volition last required for completion of enquiry project?
6. Designing the Questionnaire : As per the objective of enquiry project, information volition last required. For collection of data, suitable questionnaire volition receive got to last prepared. All necessary tending should last taken inwards lodge to laid ideal questionnaire, in addition to so equally to collect required information easily, chop-chop in addition to correctly.
7. Designing a sample of respondents : For information collection, a representative grouping volition receive got to last selected out of the total i.e. universe. H5N1 sample designed should last adequately representative inwards character. It must stand upwards for the total population nether study.
8. Collecting Data : Data are to last collected equally per the method selected for information collection. If mail survey method is selected, questionnaires volition last sent past times mail to respondents. If personal interview method is selected, interviewers volition last given suitable guidance, information in addition to preparation for the conduct of personal interview. Data collection should last quick in addition to information collected should last reliable, adequate in addition to consummate inwards all respects.
9. Organising/Processing the information collected : The completed questionnaires are non useful straight for tabulation in addition to drawing conclusions. They demand to last organised /processed properly for drawing conclusions. For this, scrutiny of data, editing, coding in addition to classification of information are required. In addition, tabulation of information collected is also essential. Such processing construct information integrated inwards a compact manner. In addition, the information are made reliable in addition to suitably arranged for analysis in addition to interpretation. Conclusions tin last drawn only when the collected information are arranged inwards an orderly mode for detailed study. In short, processing of information way verification of information collected in addition to the orderly scheme of information for analysis in addition to interpretation. The steps inwards information processing (editing, coding, etc.) are interrelated in addition to demand to last completed properly. The processing of information collected is a type of part function which tin last attended past times the part staff nether the guidance of researcher. The processing of information is a lengthy in addition to time-consuming activity in addition to needs to last completed property. This is necessary for raising accuracy in addition to reliability of the whole enquiry project.
   The processing of information collected through marketing enquiry involves the next steps:
   
   1. Preliminary screening of the information collected,
   2. Editing of the information collected,
   3. Coding of the information collected,
   4. Classification of information into meaningful categories, and
   5. Tabulation of information for slowly in addition to quick analysis in addition to interpretation.
10. Analyzing in addition to interpreting information : Tabulated information tin last used for detailed in addition to critical analysis. The role is to found useful in addition to logical relation betwixt the information in addition to problem. Analysis of information should last made inwards a rational manner. This facilitates interpretation of information inwards an orderly manner. Conclusions tin last drawn afterwards the analysis in addition to interpretation of data. Such conclusions are useful for suggesting remedial measures. Various statistical techniques are used for the analysis in addition to interpretation of data. This is necessary in addition to so that the conclusions drawn volition last accurate in addition to remedial measures recommended volition last appropriate or result-oriented.
    In brief, processing of information collected is 1 of import in addition to critical phase inwards the enquiry process. The utility of the whole enquiry physical care for depends upon the mode inwards which the information are processed past times the researchers. The services of experts should last used for such processing of data. Similarly, advanced statistical techniques should last used inwards the analysis in addition to interpretation of information in addition to so that the conclusions drawn volition last accurate in addition to useful for the introduction of appropriate remedial measures. Processing of information is similar examining patient past times a doctor. Here, if the diagnosis is accurate, the follow-up handling (remedial measures) volition last appropriate in addition to the patient volition last all right inside a curt period. The same dominion is applicable to processing of information inwards the marketing enquiry activity/process.
11. Preparing enquiry study : After drawing conclusions, the researcher tin construct concert suggestions/recommendations for solving the marketing job inwards a satisfactory manner. H5N1 researcher also prepares a document giving details of enquiry problem, information collected, conclusions drawn in addition to the recommendations made. Such document is called enquiry study which is the in conclusion outcome of lengthy enquiry process. The study volition last prepared inwards a suitable format for the convenience of readers. It acts equally a self-explanatory document.
12. Presenting enquiry study : The researcher volition submit the study to the decision-makers inwards the land of marketing. The decision-makers volition study the study minutely in addition to discovery out the desirability of execution of the recommendations made. The in conclusion conclusion is to last taken past times the decision-makers (marketing managers in addition to transcend grade management) only.
13. Follow-up steps : If the recommendations made are accepted, the decision-makers receive got to select follow-up steps for the execution of the recommendations made. The follow-up steps should last controlled effectively in addition to so equally to receive got positive results inwards the motion of time.

The steps inwards the MR physical care for (as noted above) are commonly used inwards all MR projects. Certain modifications are also possible inwards a specific enquiry project. The enquiry physical care for is lengthy in addition to fourth dimension consuming in addition to needs to last completed inwards a rational in addition to systematic manner. This gives promising results inwards the feel that appropriate solution to marketing job is available.

The researcher has to follow this lengthy MR physical care for carefully. He has to select diverse decisions spell conducting the enquiry work. The enquiry projection may last conducted past times an exterior consultancy occupation solid or an advertising agency. Sometimes, the enquiry function is conducted internally i.e. through the marketing enquiry subdivision or sales department. Here, the enquiry subdivision takes upwards the major marketing job (e.g. declining sales or profits of the company) in addition to organise the enquiry projection inwards lodge to discovery out the causes (e.g. causes for declining sales or profit) in addition to appropriate remedial measures. H5N1 sales director may last asked to organise the enquiry projection for dealing amongst the job of declining sales. Here, he has to organise the whole enquiry projection in addition to finalize the details of dissimilar steps involved.

5. Advantages of Marketing Research

1. Indicates electrical flow marketplace trends : Marketing enquiry keeps occupation organisation unit of measurement inwards conduct upon amongst the latest marketplace trends in addition to offers guidance for facing marketplace province of affairs amongst confidence. It facilitates production equally per consumer demand in addition to preferences.
2. Pinpoints deficiencies inwards marketing policies : MR pinpoints the deficiencies equally regards products, pricing, promotion, etc. It gives proper guidance regarding dissimilar aspects of marketing. They include production development, branding, packaging in addition to advertising.
3. Explains client resistance : MR is useful for finding out client resistance to company's products. Suitable remedial measures are also suggested past times the researcher to bargain amongst the situation. This makes the products agreeable to the consumers.
4. Suggests sales advertisement techniques : Marketing enquiry enables a manufacturer to innovate appropriate sales advertisement techniques, select most convenient channel of distribution, suitable pricing policy for the products in addition to provision of discounts in addition to concessions to dealers. It facilitates sales promotion.
5. Guidance to marketing executives : Marketing enquiry offers information in addition to guidance to marketing executives spell framing marketing policies. Continuous enquiry enables a fellowship to human face upwards adverse marketing province of affairs boldly. It acts equally an insurance against possible changes inwards marketplace environment.
6. Selection in addition to preparation of sales forcefulness : Marketing enquiry is useful for the choice in addition to preparation of staff inwards the sales Organisation. It suggests the incentives which should last offered for motivation of employees concerned amongst marketing.
7. Facilitates occupation organisation expansion : Marketing enquiry enables a occupation organisation unit of measurement to grow in addition to expand its activities. It creates goodwill inwards the marketplace in addition to also enables a occupation organisation unit of measurement to earn high profits through consumer-oriented marketing policies in addition to programmes.
8. Facilitates appraisal of marketing policies : Research activities enable marketing executives to receive got an appraisal of the acquaint marketing policies inwards the struggle of enquiry findings. Suitable adjustments inwards the policies are also possible equally per the suggestions made.
9. Suggests marketing opportunities : Marketing enquiry suggests novel marketing opportunities in addition to the mode inwards which they tin last exploited fully. It identifies existing in addition to emerging marketplace opportunities.
10. Facilitates inventory study : Marketing enquiry is useful for the evaluation of company's inventory policies in addition to also for the introduction of to a greater extent than efficient ways of managing inventories including finished goods in addition to raw materials.
11. Provides marketing information : MR provides information on diverse aspects of marketing. It suggests relative strengths in addition to weaknesses of the company. On the soil of such information, marketing executives discovery it slowly to frame policies for the futurity period. MR provides information, guidance in addition to alternative solutions to marketing problems.
12. Suggests distribution channels : Marketing enquiry tin last used to study the effectiveness of existing channels of distribution in addition to the demand of making suitable changes inwards the distribution system.
13. Creates progressive outlook : Marketing enquiry generates a progressive in addition to dynamic outlook throughout the occupation organisation Organisation. It promotes systematic thinking in addition to a feel of professionalisation inside the company. It also creates enthusiasm amidst executives concerned amongst marketing. This brings success in addition to stability to the whole occupation organisation unit.
14. Social significance : Marketing enquiry is of paramount importance from the social angle. It acts equally a way past times which the ultimate consumer literally becomes Rex of the marketplace place.

6. Limitations of Marketing Research

1. Offers suggestions in addition to non decisions : Marketing enquiry is non a substitute for decision-making process. Ready-made decisions on marketing problems are non provided past times the researcher. Marketing enquiry does non solve whatever marketing problems directly. It only aids management inwards decision-making in addition to job solving process.
2. Fails to predict accurately : In marketing research, efforts are made to predict the possible futurity situation. For this, for sure enquiry studies are undertaken. However, the predictions arrived at may non last perfect. Future is ever uncertain in addition to exact prediction nearly the futurity is simply non possible through marketing research.
3. Cannot study all marketing problems : Marketing enquiry cannot study all marketing problems specially where it is hard to collect relevant data. Similarly, enquiry study is non possible where value judgments are involved. Thus, all marketing problems are non researchable in addition to all enquiry problems are non answerable. MR is non a 'panacea'.
4. Resistance to enquiry past times marketing executives : Researchers study marketing problems in addition to offering guidance to marketing executives inwards their decision-making process. However, unopen to executives are reluctant to occupation the solutions suggested past times the researchers. They experience that such occupation volition human activity equally a threat to their personal status. Marketing executives also experience that researchers give solutions which are academic inwards grapheme in addition to lack practical utility.
5. Time-consuming activity : MR is a time-consuming activity. The enquiry function takes longer menstruum for completion in addition to the findings when available may evidence to last outdated. Even information collected rattling before long travel erstwhile due to fast changing marketplace environment.
6. Costly/expensive activity : MR activity is costly equally enquiry function requires the services of experts. Advanced preparation inwards economics, figurer technology, sociology, etc. is also necessary on the part of enquiry staff. Even giving responsibleness of enquiry function to an advertising agency or to a management consultant is costly.
7. Dearth of qualified staff : For scientific MR, professional person marketing researchers amongst proper qualifications, experience in addition to maturity are required. Research function is probable to last incomplete /unreliable inwards the absence of such skilful staff.
8. Complexity of the dependent land : MR fails to give consummate in addition to right guidance to the management on marketing issues. This is because MR is non an exact science. It is concerned amongst the study of human demeanour which is ever hard to predict. As a result, the conclusions drawn in addition to recommendations made are non cent per cent correct.
9. Uncertainty of conclusions : Consumer is the focal indicate inwards marketing research. However, consumer's buying motives are hard to guess exactly in addition to accurately. This brings unopen to kind of incertitude inwards the conclusions drawn from the MR.
10. Limitations of information used : MR physical care for entirely depends on the information collected in addition to used for analyzing the marketing problem, for drawing conclusions in addition to making recommendations. However, the whole physical care for volition come upwards inwards danger if information collected are inadequate in addition to unreliable.
11. Limited practical utility : MR is mainly an academic exercise. Researchers select to a greater extent than involvement inwards enquiry function rather than inwards supplying information in addition to guidance to marketing managers inwards decision-making process. Many enquiry reports are rather bulky in addition to unintelligible. This brings downwards the practical utility of marketing research.
12. Miscellaneous Limitations :
    1. Problems developed due to changing marketing surroundings cannot last solved chop-chop through MR.
    2. Research study may last bulky, technically worded in addition to difficult. Its execution is hard at lower levels.

The limitations of marketing enquiry (noted above) do non propose that it is a redundant activity. It only suggests that the marketing enquiry activity should last conducted amongst proper tending in addition to caution. This volition construct enquiry activity meaningful in addition to result-oriented.

7. Importance of Marketing Research

Marketing enquiry is fast growing inwards its importance due to increasing competition, fast moving technological developments in addition to changing consumer needs, expectations in addition to attitudes. The importance of marketing enquiry is universally accepted. The condition of marketing enquiry inwards occupation organisation management is identical to the set of encephalon inwards a human body.

The next points propose the importance of marketing research:-

1. Planning in addition to execution of marketing programme : H5N1 occupation organisation unit of measurement tin programme in addition to execute all activities right from manufacturing to marketing amongst reasonable accuracy in addition to confidence due to the guidelines available through marketing research.
2. Quick in addition to right decision-making : MR facilitates quick in addition to right decision-making past times marketing managers. It enables management to select quick in addition to right marketing decisions.
3. Effective solutions on marketing problems : MR provides effective solutions to marketing problems. MR is the radiology in addition to pathology of marketing operations of business. It diagnoses the occupation organisation ailments in addition to suggests measures to take away them. Marketing researcher acts similar occupation organisation physician in addition to prescribes handling for occupation organisation elements.
4. Huge spending on MR : Large companies pass crores (1 Crore = 10 million) of rupees on marketing enquiry activities. New techniques in addition to methods are used inwards the conduct of enquiry activities inwards an accurate manner. This suggests the growing importance of MR.