What is the meaning of Market research? Concept, Definition of Market research

Concepts and meanings of research market

Market research concept

"Market research is not an end, it is a means to an end: improving decision-making" Peter Chisnall
Market research is one of the functions of marketing that is responsible for obtaining and providing data and information for decision-making related to the practice of marketing, for example, publicizing what needs or desires exist in a given market, who are or may be consumers or customers potential, what are their characteristics (what they do(, where buying, why, where are located, what are their income, etc...), what is your degree of readiness to meet their needs or desires, among others.
Therefore, in this article gets to the marketer in this important and interesting topic giving to know what is the definition of market research from different points of view, in order for to have a broader vision of the meaning of this important function of marketing.
Definition of market research:
• According to Naresh Malhotra, market research is "the identification, collection, analysis and dissemination of information in a systematic and objective, with the aim of improving decision making related to the identification and solution of problems and opportunities for marketing" [1].
• Philip Kotler, defines market research as "systematic data and discoveries relevant to a situation specific marketing that the company faces design, obtaining, analysis and presentation" [2].
• According to Richard L. Sandhusen, market research is "a systematic collection, registration, analysis and distribution of data and information on the problems and opportunities of marketing" [3].
• For Peter Chisnall, market research "has to do with the systematic compilation and objective, the analysis and evaluation of information on specific aspects of the problems of marketing to help the Administration in making important decisions" [4].
In synthesis, and complementing the previous definitions, consider the following definition of market research:
Market research is systematic and objective identification, obtaining, recording, analysis, presentation and data distribution and company, with the aim of improving information about a specific situation of marketing faces making decisions for solving problems and/or identifying marketing opportunities.

Market research definition

Latin for investigate, an investigation is to carry out various inquiries to discover something. The concept also lets name in search of knowledge and to carry out intellectual and experimental activities to increase the information on a certain subject.
Market, on the other hand, it is the social environment that enables elintercambio of goods and services. It is an institution where buyers and sellers establish a commercial link for exchanges, transactions and agreements.
Market research, therefore, is the process that allows to know the commercial operation. This procedure must be systematic (with a preset plan), organized (specifying details related to the study) and objective (its conclusions must set aside subjective impressions).
When conducting market research, the analyst must collect, process and analyse information linked to various aspects of marketing. The objective is the development of a strategic plan that will allow the launch or the positioning of products.
The economy, sociology, psychology and communication sciences are some of the specialties that provide theories and techniques for the development of market research.
Well done market research allows you to understand what is happening in the market, determine what are the main trends, who are the company's competitors, how products are positioned and what are the needs of consumers. With these data, facilitates decision-making to level dirigenciales.

Market research meaning

Market research is a necessary tool for the marketing exercise. This type of research based on the analysis of some changes in the environment and the actions of consumers. It allows you to generate a diagnosis about resources, opportunities, strengths, capabilities, weaknesses and threats of an organization.
As ZIKMUND indicates, market research refers to the "objective and systematic process in which information is generated to help in the decision-making of marketing.", "Includes the specification of the required information, design the method to collect information, administration and implementation of data collection, the analysis of the results and the communication of its findings and implications".
As you have seen, market research is made up of instruments and techniques that applies to the generated information with a high degree of validity and reliability with respect to the behaviors and characteristics of a market.
It is the process by which it acquires, records, processes and analyze information, regarding related topics, as: customers, competitors and the market. Market research can help us to create the company's strategic plan, preparing the launch of a product, or facilitate the development of products launched depending on the cycle of life.
Market research seeks to ensure that the company, the proper orientation of their actions and strategies, to meet the needs of consumers and get the possibility to generate products with a durable life cycle that allows the success and progress of the company, also provides companies the ability to learn and find out more about current and potential customers.
Market research is a discipline that has contributed to the development of the marketing and the industry in general during the past fifty years, being nourished by the integration of multiple disciplines (psychology, anthropology, sociology, economics, statistics, communication, among others).
The purpose of market research is to help companies in decision-making on development and marketing of the various products. Market research represents the voice of the consumer within the company.

Market research definition

A. What is market research?

Market research is a technique that allows you to collect data from any aspect that you want to know to then interpret them and make use of them. They serve to the merchant or businessman to make a proper decision making and for the satisfaction of their customers.

B. objectives of market research

The objectives of the research can be divided into three:
Social objective:
Meet the needs of the client, whether it is through a good or service required, i.e., that the product or service meets requirements and desires required when it is used.
Economic objective:
Determine the economic success or failure that may have a company at the time of entering a new market or introduce a new product or service and thus knowing the actions to be taken with greater certainty.

Administrative objective:

Help the development of your business, through appropriate planning, organization, control of resources and areas that comprise it, so that it covers the needs of the market, at the right time.

C. benefits of market research

• Have more and better information to make sound decisions that favor the growth of enterprises.
• Provides information real and expressed in more precise terms, that help solve problems that arise in the business with a greater degree of success.
• It helps to know the size of the market that you want to cover, in the case of sell or introduce a new product.
• Is used to determine the type of product that should be manufactured or sold, based on the needs expressed by the consumers, during the investigation.
• Determines the most suitable system of sales, according to what the market is demanding.
• Defines the characteristics of the client that satisfies, or is intended to satisfy the company, such as: tastes, preferences, habits of buying, income level, etc.
• Helps namely how changing tastes and preferences of customers, so that the company can respond and adapt to them and will not be out of the market.

Market research concept

Before introducing a new product or service to the market, it is necessary to carry out a preliminary study in order to analyse the characteristics of the consumer and check who are competitors, among other aspects.
However, this methodology applies not only at the time of starting a new business, is also recommended to perform continuously to rectify the during and after this process. It is feasible that, once released the product or service, emergence of new competitors or change the buying habits and consumer behaviour. But how do I know this? Precisely through the application of this method of study.

What is market research?

It is a process that reflects the needs, trends and market profile; as well as the opinion, conduct and consumer habits. This methodology can be applied using surveys (mail, telephone or personal), statistics, interviews, and focus groups (focus groups). Several types of market research: quantitative, qualitative, documentary and marketing. Each of them will yield different results, depending on the features and variables that you wish to study.
Before launching a methodology of this nature, it is necessary to ask ourselves what problem or aspect we want to investigate and why. Subsequently, we must select the type of analysis of information that we will use and design the sample. We then proceed to collect the data for later analysis and, finally, the findings and results are studied.
Data thrown by this process constitute a strategic guide to know who are our present and potential customers, which will help us to make more accurate decisions and designing a business plan and a much more focused marketing campaign.
There are several reasons why we conducted a market study: because we want to meet the needs of the customer, but we need to first know your preferences, social class, education and occupation, among other aspects. Another reason may be because we want to know the level of success or failure when you launch one new business, among others.

Benefits of market research

-Helps make better decisions
-Provides reliable results, the closest thing to reality
-It is a strategy to meet the market consumer and competitor
-Reduces risks
-Identifies potential problems
Many times the success of the business depends on the level of knowledge that we have about our environment (clients and competition). Put into practice this methodology of study and be cautious when introducing a new product or service to the market.

What is market research

Concept of market research

This can be set as the collection and analysis of information, with regard to the world of the company and of the market, made express or systematic way, for decision-making within the field of strategic and operational marketing.
It is, in short, a powerful tool that should allow the company to obtain the information necessary to establish different policies, objectives, plans and strategies best suited to their interests.
The American Marketing Association (AMA) defines it as: «the systematic collection, registration and analysis of data about problems relating to the market of goods and services».
In our country, market research throws a few nothing encouraging data for the year 2009 by the fall unprecedented ad hoc studies. The business of research in Spain grew 0.8 per 100 in 2008 compared to 2007, which resulted in a net turnover of 537 million euros, according to the report prepared by AEDEMO (National Association of market research companies). 80.5 Per cent of turnover came from national studies, whereas 19.5 per 100 remaining was contributed by studies contracted by companies based outside Spain.
With regard to methods, quantitative research which has more weight in the total turnover remains: in 2008 represented the 82.3 per cent, against 81 per cent of 2007; followed by the qualitative, 13.3 per cent (15% in 2007) and the desk research and others, 4.4 per 100 (4% in 2007).
In terms of the quantitative research techniques more employees in 2008 were the telephone and personal interviews, the 24.8 per cent, the 23.8 per cent, although their participation has decreased compared to 2007, year in which accounted for 34 per cent and 32 per cent, respectively. The postcard remained almost the same, 1.7 per cent in 2008 and 2 percent in 2007, and significantly grew the online research, that the study of this year, for the first time, has broken down in three games: data capture by means electronic/automatic (14%), research online (3.6%) and online traffic measurement or measurement of audience of webs (1.6%). Together they represent the 19.2 percent while that in 2007 accounted for 14 per cent.
In terms of the global turnover of 2008 has promoted to 32.462 million dollars, representing a growth of 4.5 per cent compared with 2007. «The most outstanding feature of this exercise is that Europe is still the most important market worldwide and that Spain occupies a prominent place in this panorama stood in seventh place. The European market represents the 49.5 per cent of the whole. Behind him is North America, assumes the 29.6 percent of the market, followed by Asia, 13.9 per cent Pacific, Latin America, the 5.2 per 100, and Middle East and Africa, 1.6 per cent.
Also and in front of business atomization which has the sector, the solution will come given from the hand of the quality that has been provided and especially at a time in which the investigation is in a process of profound change affected by the development of new technologies, the new economy and globalization of the market.
1.1 Interdisciplinary character of market research
In order to complete a market analysis, it is necessary to apply various knowledge acquired through the following subjects:
• The applied economics, psychology and sociology. In so far as the functioning of the economic system relies on decisions of market analysis of the consumer's behaviour you need knowledge of psychology; Sociology is necessary for the study of market institutions and groups...
• Philosophy by the outstanding importance that has logic on applied research.
• Statistics and Mathematics by his fundamental contribution in the quantification of the facts identified in the research.
• Communication for dialogue that occurs on a permanent basis in field work.
• Business address, since the objectives pursued with the research are closely linked to the design of a strategy and the fulfilment of goals for sale, prices, products and distribution.
• Innovative capacity, applied to the development of new methods effective and differentiated, in the design of cost-effective solutions.
1.2 Contribution from market research
1.2.1. In basic decision-making
Market research provides the information needed for the maturation of basic decision-making and far-reaching of the company requiring a careful analysis of the facts.
When the alternative solutions of the problems are complex, making decisions without their aid is dangerous.
1.2.2. In the task directive
Market research provides the Steering valid knowledge about how to have products in appropriate place, time and price. It does not guarantee correct solutions but dramatically reduces the margin of error in the decision-making process.
1.2.3. In the company's profitability
Basically it contributes to the increase of the business profit because:
• Allows better adapt products to the demand conditions.
• Refines the methods of promotion.
• Makes for a more effective part sales system and the performance of sellers, and on the other hand reduces the cost of sales.
• Encourages managers to the re-evaluation of the planned objectives.
• Encourages staff to know that your company has a complete understanding of their situation in the market and that is directed toward a few well selected targets.
1.3 Market research applications
If we outline the applications you have for companies, the following utilities are detected:
• Analysis of the consumer:
-Uses and attitudes.
-Analysis of motivations.
-Positioning and brand image.
-Typologies and lifestyles.
-Satisfaction of the clientele.
• Advertising effectiveness:
-Advertising Pretest.
-Posttest of campaigns.
-Advertising tracking (tracking).
-Promotional effectiveness.
• Analysis of product:
-Concept Test.
-Analysis multiconcepto-multiatributo.
-Analysis of sensitivity to price.
-Product Test.
-Test of packaging and/or label.
-Mark Test.
• Commercial studies:
-Areas of influence of commercial establishments.
-Image of commercial establishments.
-Behaviour of the buyer at point of sale.
• Studies of distribution:
-Audit of retail establishments.
-Behavior and attitudes of the distribution.
-Advertising at point of sale.
• Means of communication:
-Media audience.
-Effectiveness of brackets.
-Analysis of contents and formats.
• Sociological and public opinion studies:
-Electoral polls.
-Mobility and transport studies.
-Sociological research.
-Institutional studies.

Market research meaning

Marketing research is a systematic and objective approach directed towards the development of the provision of information relevant to the decision-making of the marketing management process.
Marketing research is one that through the application of the scientific method gathers logs, analyzes and interprets the objective factual information taking place the process of marketing goods to that marketing executives can make decisions with a lesser degree of uncertainty.
The scientific method used it to achieve its objectives, to obtain data have to be objective and representative of a population, marketing process is divided into phases of distribution, advertising, promotions and consumption.
The research of marketing has taken momentum for two reasons:
O the development of marketing
Or by the uncertainty in decision-making increasing
Marketing research is:
Or it is the systematic collection, registration and analysis of the facts related to the marketing, links the consumer, customer and the public, identifies and defines problems, opportunities also, generates, evaluates and perfect marketing actions, oversees and improves the understanding of the process.
Or collection, analysis and interpretation of data from marketing, discover facts and prepare forecasts, to carry out the work and interpret information for the company.
It integrates accounting data, reports of sellers marketing services data, research studies of marketing etc. in a continuous flow of information for marketing decisions.

  • Structural and Sociometrica research
  • Motivational research
  • Research of consumption
  • Research products
  • Investigation of business conditions
  • Research of the distribution
  • Research of the commercial dynamics
  • Research releases
  • Technical research

Definition of the units of market and the role of consumers, prescribers, plaintiffs, buyers, sellers and bidders, location and number of each type of element of market in each segment.
Determination of partner grass that it establishes mutual interaction and the degree in which each one is influenced by others to attract offers
Structural tensions in the market, the evolution of the dimension, nature, location, habits and mutual influences of the market units
Gets information of the motivations of the different market units that contribute to the acceptance of the offer and the demand creation.
The conduct of market research, if such conduct is planned, impulsive, habitual, integrated.
Research of intentions concerning such conduct as plans, desires, habits and purposes
Investigation of opportunities that have to accept the offer to create demand such as dates, places, knowledge, location, point of sale etc.
Investigation of needs that meet accepted bids and existing and demands unmet, determining whether they are rational, instinctive or projective.
Research on the image of products, brands and advertising media, determining cost, novelty, aesthetic satisfaction, confidence, safety, identification, transformation, prestige etc., comfort
Research of the guiding mechanisms for the conduct of the market as the way of thinking, their judgments of value and opinions, feelings, preferences, their instincts and principles, their image of themselves, their attitudes and their roles.
Collect the information relating to the evolution of demand in different segments, it is oriented to collect information on:
Evolution of the number of users of the product
Evolution of the number of units of the product in use, introduction, development and renewal, the evolution of the joints and seasonal coefficients,
It is important to determine the phases of the product, predicts its future evolution, characteristics of competition, participation of each brand, profitability and the development of substitute products
Investigation of all existing products, their features and differences of competing products
Uses and applications for which they are used and the form of employment
Differences between consumers of substitutes and that motivates them
Advantages and disadvantages of commercial and variants of each product
Space characteristic of the product, demand areas, areas of competence and areas of commercial interest
Price of each product, model and brand image
Prices and discounts for each mark on each product, model and market segment
Terms of payment and delivery
Concessions of all types in the payment of transport, installation and offered supplements
Market research with respect to each of the terms and conditions
It collects information about the different phases of the distribution systems used by different brands and their relative efficiency competition.
Existing customers of each brand and nature of this, distribution channels, importance and choice made by participation in their sales and stock point of sale
Purchases made by customers, average volume and buying habits
Networks of sale of each brand, employed arguments, frequency of visits, routes
Media storage, transport and services in general. Packaging and containers
After-sales service of each brand
It collects information relating to advertising, public relations, promotion and offer with regard to media and systems specific to the competition
It investigates the existing advertising media and its audience among the drives that we want to achieve
Pre-test for messages to emit the chosen, to determine if the desired communications achieves media
Pre-test for the study of communication and the effects achieved after the issuance
Image given by the means employed and the offer made
Effectiveness of communications employed and the offer submitted
Interest of promotional actions and testing of your application
Analysis of the actions of the competition and the offers made
On the occasion to offer a novelty to the market acceptance of novelty
Market tests to infer the consequences of a product launch
Speed of acceptance of novelty once launched, achieved initial image, that image diffusion, percentage of attainment of users percentage of renewal, at each point of sale.
Negative aspects that are appearing against the offer and how to correct them
Analyzes existing competitors, their participation, their evolution, their participation aggressiveness, differentiation of your offer, aggressiveness, characteristics of their products, advertising media, techniques and activities
Way of use of commercial media, of reducing costs, technical more appropriate forms of market research, technical studies, planning, decision-making, execution.

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