Determine the important factors of marketing research?
Marketing Research involves following: -
i) Product Research: - Assessment of suitability of goods with respect to price and design.
ii) Market Characteristics Research (Qualitative):- Who uses the product?
Relationship between user and buyer, how a product used, buying motive, analysis of consumption rates, consumer attitudes, units in which product is purchases, brand loyalty etc.
iii) Size of Market: - Total sales quota, Market potential, quota for individuals, territorial sales quota etc.
iv) Competitive position and trends research.
v) Sales Research: - Analysis of sales record.
vi) Distribution channel research.
vii) Advertising and promotion Research: - Testing and evaluating the promotion program.
viii) New product launching and product positioning.