Marketing Research is systematic problem analysis, model building and fact finding for the purpose of important decision making and control in the marketing of goods and services.
Articles on Marketing Research
Marketing Research is not an exact science though it uses the techniques of science. This article discusses about the major limitations of Marketing Research.
This article gives a pictorial view and elaboration of all the stages in a Marketing Research project.
Data Collection in Marketing Research is a detailed process in which a planned search for all relevant data is made by researcher. Lets discuss the various types of data and data collection methods.
The article gives an insight into qualitative and quantitative research by describing the focus of each method, business situations in which the respective methods are apt to use and techniques for executing both types of research.
The article helps understand the 3 types of research along with an explanation of which type should be deployed in what kind of problem.
Focus groups are also known as group interviews or group discussions. They are used to understand the attitude or behaviour of the audience.
Depth Interviews are conducted to customize individual responses. The success of interviews depends on the rapport of the interviewers established with the respondents. Lets discuss the advantages and disadvantages of depth interview.
The Survey method is the technique of gathering data by asking questions to people who are thought to have desired information. A formal list of questionnaire is prepared.
Techniques of Survey Method.
Sources of Data
This article discusses the latest trend in marketing which is the use of Big Data to predict and model consumer behavior. Unlike traditional models that map consumer behavior, the use of Big Data can be a game changer for marketers and businesses as it can be used to predict things like whether someone is pregnant or not based on the data available.
This article discusses the ongoing revolution in marketing and predicting consumer behavior by using Big Data which is the combination of large datasets of consumer data used with advanced computing and algorithmic capabilities. The key theme in this article is that Big Data allows marketers and companies to know consumers better than they know themselves and hence, is similar to a magical ability to predict, sense, and intuit consumer behavior.
Attitude is a resultant of number of external and internal factors. Depending upon the attitude to be measured, appropriate scales are designed.
A good questionnaire should not be too lengthy. Guidelines on how to design a good questionnaire are discussed in detail
This article gives an insight into a popular statistical tool deployed in marketing research, Factor Analysis. It also describes the technique for executing this method, real life examples where implementation of factor analysis is relevant and the conditions that must hold true for applying this tool.
The article gives an insight into the concept of conjoint analysis, defines terms related to the concept, lists down the steps for executing this method and describes some real life applications of this study.
This article describes a technique of marketing research, mystery shopping. It elaborates the procedure of this exercise and situational examples where in can be used.
This article describes how to generate a regression equation and use it for trend analysis or for making predictions using a case based scenario.
The article above gives an overview of concept testing, market research scenarios in which it is applicable and the procedure for executing this study.
The above article explains the importance of brand health survey in marketing research, describes the four components of this study and advices on the situations in which it is applicable.
Market Research forms the basis of future product launches and brand releases. Market Research has come a long way from the paper-based surveys to the present where Big Data and AI are employed. Having said that, successful market researchers often have intuition and gut feel to make predictions. Further, the Age of Unpredictability means that market researchers are vital for any organization. Thus, market research is indeed important to organizations many of whom now have dedicated in-house teams rather than outsourced external agencies.
Poor quality data distorts business prospects and vitiates longer term planning. All entities need accurate and reliable data for reporting true picture of the various indicators related to growth and other aspects. In recent years, there has been an increase in corporates and governments worldwide reporting faulty data. Taking examples from industry and regions, we argue that poor quality data harms our future and hence, it is not the data that is collected that counts, but the quality of the data as well.
This article explains what the Efficient Market Hypothesis is all about and argues that in the real world, markets do not work as intended to governmental and private entity interference. We use real world examples from the ongoing Farmer Protests in India as well as from the Great Recession of 2008 to show how markets are distorted. We also explain what Crony Capitalism and why the Technological Revolution failed to free markets and put more power into the hands of the people.
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