Marketing research is the process of processes that link the producers, customers, and end users to the marketer through information used to identify and define marketing issues, competitors strategy, market trends, opportunities, and problems, generate, refine, and evaluate marketing actions, and improve understanding of marketing as a process.
Moreover, we use quantitative marketing research for business to business. Which is emphasize objective measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using computational techniques. We do research by using trade journals, directories, libraries, websites, publications of trade association and chamber of commerce, government publications, and internal sources.
Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.
Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision-making related to the identification and solution of problems and opportunities in marketing.
Steps involved in Marketing Research
- Statement Of Work (SOW)
- Problem Formulation
- Table of Content (TOC)
- Research Design
- Data Collection
- Data Analysis
- Report Presentation and Recommendations
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