Marketing Research: Functions and Compilation Steps

Marketing research is a research activity in the marketing field. Marketing research must be carried out systematically, starting from problem formulation, goal formulation, data collection, data processing, and interpretation of the obtained marketing research results. Market research is carried out as an effort to provide input to management. With marketing research, management will know what needs to be improved and what marketing strategies are still appropriate to seize opportunities.

1. What is Marketing Research?

Marketing research is a form of activity in the form of problem formulation, data collection, analysis and reporting that is systematically compiled as a guide in determining marketing strategies.

According to the American Marketing Association, marketing research is a function that can connect consumers and the public with marketers through the presence of information in identifying marketing opportunities and problems. From here, improvements will be made to evaluation of marketing efforts so that marketing performance can be monitored and any problems that arise can be resolved.

2. Recognize the types

There are two types of marketing research, namely primary research and secondary research. Primary research is research whose data comes from direct respondents or the object of research. examples of primary research: research on the number of people who like smartphone A, research on consumer purchasing power.

Meanwhile, secondary research is research when the data has been processed and is ongoing. This research aims to evaluate and control ongoing marketing activities. examples of secondary research: the number of people who buy goods, the number of people who visit your website.

3. Research Object

Whatever the research, it must have an object of research. A research subject depends on the object to be studied. Every research has different research objects. Meanwhile, in marketing research, the research objects are;

Price, this object is useful for measuring the purchasing power of consumers, what is the price that can be the opportunity for goods / services to be purchased and used.

Products, the object of product research can include, product use, product value, product appearance and also the level of product use.

Marketing Tools, this topic is used to see how effective the tools used in marketing are.

distribution, this object is also used to see the effectiveness of the product distribution flow to consumers.

consumers, the object of research that is no less important is the consumer. it is used to analyze consumer behavior and needs.

4. Marketing Research Function

Marketing research is an important step that companies must take to help formulate marketing planning. Marketing programs in the new year are usually influenced by the results of marketing research conducted by companies at the end of the year. Research can be said to be the eyes and ears of a company to find out how consumers perceive and desire the company. Market research has three main functions, namely:

a. Evaluating

The first function is evaluating. Research carried out for this function is usually used to evaluate marketing programs that have been carried out previously. The evaluating function in marketing research also includes when a company wants to review its brand positioning compared to competitors' products.

In the evaluation process, a marketing researcher also performs problem solving on the results of the review. Problem solving can also be done by understanding the problem spots that prevent the business from running properly.

b. Understanding

The second function is understanding. This research function emphasizes the goal of understanding consumers as a very important insight or input for the company. By understanding consumers, companies will know what consumer needs and complaints are. In carrying out this function, marketing research that is usually carried out is research that describes a portrait of consumer habits and behavior as well as their expectations and complaints about the product.

c. Predicting

The third function is predicting. This last marketing research function is actually the most difficult function to do. The world is full of uncertainty, so predictions made in marketing research are very risky because of their very relative nature. When a brand wants to target a new market, marketing research is always used as the main reference. Likewise, when a company wants to develop a new marketing strategy, marketing research is still the main assessment.

d. Controlling

The next function is controlling. This function is used to view every business process that is running. Usually this research function looks at data on ongoing marketing activities. This data can include the position of our products in front of consumers, demographics, trend and also the effectiveness of the marketing tools used.

tag : Marketing Research: Functions and Compilation Steps, The Marketing Research Process | Principles of Marketing, Marketing Research: Step by Step Execution, What are the 7 steps in marketing research, What are the 5 steps in the marketing research process, What are the 11 steps in the marketing research process, What are the 4 steps in the marketing research process, Steps in international marketing research marketing research, process: 5 steps Types of data in marketing research, 6 steps of marketing research process,Marketing research process case studye example

Marketing research areas and process,

Marketing research process PDF,

Marketing research process with diagram,