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Meaning and Definition

According

to Philip KotlarMarketing research is

the systematic problem analysis, model building and fact

finding for the purpose of improved decision-marketing

and control in the marketing of goods and services.

According To TheAmerican Marketing Association,..

Marketing research is the systematic gathering,recording and analyzing of data about problems relating to

marketing of goods and services .

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o Systematic process: Marketing Research is a systematic process to identifyand to solve marketing problems.

o Scope: Product Research

Promotion Research

Pricing Research

Place Research

o Continuous in Nature: Marketing Research is continuous in nature asthere is need for marketing research.

o Bridges Company-Customer Gap: Marketing research bridges the gap

between the producers and the consumers.

o MarketingMix Decisions: Effectives Marketing-mix enables the firmto achieve marketing objectives.

o Methods of Data Collection: Survey Method, Experimentation Method,Observation Method.

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Importance of Marketing Research

Marketing-mix Decisions.

Customer Satisfaction.

Competitive Advantage.

Corporate Image.

Forecasting Of Sales.

Brand Loyalty.

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According to Philip KotlarMarketing information

system (MIS) consists of people, equipment and procedures to

gather, sort analyses evaluate and distribute needed timely and

accurate information to marketing decision makers.

Marketing decision makers use the data to identify and solve

marketing related problems.

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Features of Marketing Information Systemo Systematic Process.o Component of MIS.

o Facilitates Decision Making.o Future Oriented.o Regular Supply of information.

Internal Records Marketing Intelligence System Marketing Research Marketing Decision Support System

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Importance of Marketing Information System

Helps to recognise Trends. Facilitates Marketing Planning and Control.

Quick Supply of Information.

Tapping of Business Opportunities.

Provide Marketing Intelligence.

Integration of Information.

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- By Mithun Kanojia