Define marketing research.
Research can be defined as the systematic method of exploring or carrying out detailed investigation to discover new facts or tests and verify old facts relating to different aspects of a particular subject. It is a systematic method of exploring, analysing and conceptualising various facts related to particular subject matter. Basically, the main objective of the research is to find out solutions for various problems faced in different fields.
When the term research is applied to find out solution to various problems of marketing and gather relevant facts it is called Marketing Research. Thus, Marketing Research refers to all the research activities conducted in the field of marketing. The term Marketing Research has been defined in different ways by different experts.
Some of them are:
According to American Marketing Association, Marketing Research is defined as, “The systematic gathering, recording and analysing of data about problem related to marketing of goods and services.”
According to Philip Kotler, Marketing Research is, “The systematic problem analysis, model building and fact finding for the purpose of improved decision making and control in the marketing of goods and services.”
According to Richard D. Crisp, “Marketing Research is the systematic, objective and exhaustive search for and study of the facts relevant to any problem in the field of marketing.”
Marketing Research is thus, the collection, analysis and interpretation of facts and figures related to the marketing. It is the systematic, objective and exhaustive search of various facts relevant to any problem in the field of marketing. On the basis of the information collected, decisions may be taken and control can be exercised. Thus, Marketing Research is the investigation of facts to solve marketing problems.
