An Analysis of the Fundamentals of Marketing (part 34)

Marketing Research (part B)

by

Charles Lamson

Definition of Marketing Research

Marketing research has been variously defined but, essentially, it relates to the collection of information regarding actual and potential customers in the marketplace together with the analysis and interpretation of these market data for use in management marketing decision making. Usually such decisions relate to the elements of the marketing mix, i.e. to product and pricing, promotion and channels of distribution decisions. The following are examples of marketing research definitions:

the systematic and continuing study and evaluation of all factors bearing on any business operation which involves the transfer of goods from a producer to a consumer (Delens, 1950).

the objective gathering, recording and analyzing of all facts about problems relating to the transfer and sales of goods and services from producer to consumer (British Institute of Management, 1962).

the gathering and analysis of information to assist management in making marketing decisions. These decisions involve the manipulation of the firm's pricing, promotion, distribution and product variables (Wentz, 1972).

the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company (Kotler, 1997).

Thus, marketing research systematically collects market data about a product or service which are then analyzed to help management decision making. Definitions of marketing research have been developed further:

any research activity which provides information relating to marketing operations. Whilst the term embraces conventional market research, motivation studies, advertisement attention value, packaging effectiveness, logistics and media research are also included, as well as analysis of internal and external statistics of relevance (Hart and Stapleton,1981).

the process of generating information around given problems or areas of interest, using either secondary or published data sources or the undertaking of primary research to generate new data at the marketplace level (Piercy and Evans, 1983)

links the organization with its marketing environment. It involves the specification, gathering, analyzing and interpretation of information to help management understand the environment, identify problems and opportunities and develop and evaluate areas of marketing action (Cravens and Woodruff, 1986)

a set of techniques and principals for systematically collecting, recording, analyzing and interpreting data that can and decision makers who are involved with marketing goods, services or ideas. (Parasuramun, 1991).

the function which links the consumer, customer and public to the market through information - used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues; designs the method for collecting information; manages and implements the data collection process; analyses the results; and communicates the findings and their implications (American Marketing Association, 1987). 

the means used by those who provide goods and services to keep themselves in touch with the needs and wants of those who buy those goods and services (Market Research Society (MRS), 1989).

 

a formalized means of obtaining information to be used in making marketing decisions. It has a single purpose - that of providing information to assist marketing managers to make better decisions. The function of marketing research is to provide information that will assist marketing managers in recognizing and reacting to marketing opportunities and problems (Tull and Hawkins, 1990).

a specialized function of marketing: it is by no means restricted to profit-motivated business activities. It adopts an objective approach when investigating marketing problems and opportunities; it is motivated by the principals of scientific enquiry (Chisnall, 2005). 

*SOURCE: FUNDAMENTALS OF MARKETING, 2007, MARILYN A. STONE AND JOHN DRESMOND, PGS. 117-119*

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