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EDP (LECTURE 4)

MARWARI COLLEGE,RANCHI
(UNDER RANCHI UNIVERSITY,RANCHI)

NAME : RAJU MANJHI,PRAKASH KUMAR
SUB: EDP
SEM: VI(CA/IT/CM)


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 MARKET (SURVEY) RESEARCH

Marketing research is a comprehensive term covering all forms of research internal & external with collecting, tabulating & analyzing facts & data involving a study of appropriate relationship between production & consumption.
The American Marketing Association defines marketing research as the systematic gathering, recording & analysis of data, about the problems relating to the marketing of goods & services.
Marketing research involves research techniques & technology in order to satisfy the following requirements:
1.      It should be an orderly investigation of a defined problem.
2.      Appropriate scientific method should be used in conducting such research.
3.      Logical reasoning without bias should be used in drawing conclusion from the evidence collected.
4.      Adequate evidence should be collected.
5.      The conclusion drawn from the study or research should be verified.
6.      The cumulative result of the research in an area should yield general principles or laws, which can be applied under similar conditions in future.

Aims of marketing research.
1.      What to sell.
2.      When to sell.
3.      Where to sell.
4.      How to sell.
These aims are very much based on question words.
Aim - Goal to achieve.                       
Objective - The purpose of an activity.


Objectives of marketing research.
1.      To discover the needs of the prospects regarding the products.
2.      To examine the reaction of the consumer regarding a product already in the market.
3.      To know the areas from which a demand for the product is likely to come and to capture new markets.
4.      To estimate the buying potentials of the prospective consumer.
5.      To estimate the policies of the organization.
6.      To discover new uses of a product.
7.      To find out marketing opportunities and problems.
8.      To take correct actions to solve a problem.


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