Marketing research is the study where marketer study the consumers demand as per their like and dislike of regarding the product and they collect all the information for product development and maximise company profit. This information is used for identify the various opportunities and problems. Marketing research helps to evaluate marketing action to improve company’s market performance.
Marketing research collects the information for design various ideas to develop the position of company into market. In marketing research collected information is used for getting some findings and results from that information.
In marketing research there is the grouping of all quality qualitative and quantitative information from market or customer relating to the market product or service. The objective of marketing research is to identify that how to change the element of the marketing mix and how it will be impact positive on customer behaviour toward product or service. Marketing should be related research is very important for product development.
In market research it should include market and market aspects of market environment and business environment. In Market research marketer collects the information by asking questions related to the competitors, market structure, government policies, technology which is used for production of the product, and also financial position of the company.
After market research researcher should do the product research. In product research there is analysis of product and product looks and the technology is used in product. After product the product promotion research is very essential for market research. In product promotion advertisement plays a vital role in product promotion. In advertisement research it studies advertisement in detail. Advertisement research analysis that the advertisement should be related to the product and advertisement should be the attention of the customer. Advertisement should help to increase the level the of product consumption.
The objective of marketing research is to collect all correct information. Market research helps to take important decisions related to development of business. Marketing research gives accurate result and it helps to take correct decision for business future. Marketing research collects information and it helps to use proper strategies to take accurate decisions. The decisions which are related to advertisement of product, product research and development, social cultural environment, government policies regarding and political environment marketing research provide relevant information to manager to make correct decision. Marketing research plays a important role in decision making in business involvement of marketing research is more in decision making.