2.2 CONCEPT OF MARKETING RESEARCH
Marketing research is a
branch of the business research which studies customers and is concerned
with the improvement of the quality of marketing decision. It is also
the internal part of the marketing task, it was stated further that it
provides the manager with the means of identifying marketing
opportunities, it can provide data for control of marketing programme.
American Marketing Association (1968) defines marketing research as an
aspect of management that collect, records, analyze, precise,
objectively and systematically, data relative to marketing problems.
Burger Zaltman (1995) sees marketing research as consisting of
diagnosing the necessary information and selecting the pertinent
variables for which valid and reliable data will be collected, recorded
and analyzed.
Gren and Tull (1975) sees marketing research
consisting a systematic and objective collection as well as appropriate
analysis of information that will provides solution to all marketing
problem.
Marketing research seems to have developed in America
during a period from the late nineteenth century up to and into the
1920’s Charles Coolidge parking, who seems to be acknowledge as the
outstanding figure in this development, is said to have founded the
first commercial research company in the 1920s. names which also stem
from the era and which are still going strong are Daniel Starch
(Advertising Effectiveness Research).
Marketing research as an
objective and systematic investigation of market itself, he stated
further that since marketing involves all business activities required
to move goods and services from producer to final consumer, marketing
research studies all aspect of company’s marketing effort. And also
Dania Dafoe made through the whole island of Great Britain published in
1920 describe marketing research as activities as a tool use by dynamic
business organization for the purpose of accurate decision making. Among
such dynamic organization as mention coca-cola company the largest
manufacturer of soft drinks in the whole world which was established in
1886 and as continuously prospered in its times and term of its
business. The marketing organization has conducted some form of
marketing studies since the inefficacy for marketing research.
Marketing research can be said to be the ability to gather required
information at the right time, analyze the information to solve
challenging marketing problem. Marketing research is the process of
defining a marketing problems and then systematically collecting and
analyzing information to recommendation to improve an organization
marketing activities. (Barkovtz, 1986).
2.2.1 THE RATIONALE FOR MARKETING RESEARCH
Marketing research is investigating and carefully studying your customers, competitors and industry conditions.
Below are the reasons for marketing research;
- Market research tells us whether or not there is deemed for your product or services. Even the most passionate of entrepreneurs will become disillusioned if few are interested in buying his or her goods.
- Market research also answers the question what kind of person or company is most likely to buy my goods/service knowing the demographic profile of your customer base allows you to more easily estimate the size of your market, using census, trade association or other data, the knowledge also helps you make smarter marketing and advertising decision.
- Marketing research helps make you more successful by gathering information about your competitors.
- Marketing research helps to provide and produce product that meet the need of the customers.
- Marketing research help to solve any production problems such as shortage production, poor quality, and poor competitive ability.
- It also helps to improve in the quality and quantity of product and services, it’s because they have been able to compare with other product in the market.
