Scope of Marketing Research
Branches / Areas / Scope of Marketing Research
The scope of marketing research is very wide and comprehensive. It includes:
1. Product Research
Product means the goods and services which are sold to the consumers. It includes consumer products and industrial products. Product research studies the individual product. It studies the making and marketing of the product. It studies the colour, size, shape, quality, packaging, brand name and price of the product. It also deals with product modification, product innovation, product life cycle, etc. The product is modified (changed) as per the needs and wants of the consumers. Therefore, the product will not fail in the market.
2. Consumer Research
Consumer is the person who purchases the goods and services. The consumer is the king in the market. Consumer research studies consumer behaviour. It studies the consumers needs, wants, likes, dislikes, attitude, age, sex, income, location; buying motives, etc. This data is used to take decisions about the product, its price, place and promotion.
3. Packaging Research
Packaging research is a part of product research. It studies the package of the product. It improves the quality of the package. It makes the package more attractive. It makes the package more convenient for the consumers. It reduces the cost of packaging. It selects a suitable method for packaging. It also selects suitable packaging material.
4. Pricing Research
Pricing Research studies the pricing of the product. It selects a suitable method of pricing. It fixes the price for the product. It compares the companies price with the competitor's price. It also fixes the discount and commission which are given to middlemen. It studies the market price trends. It also studies the future price trends.
5. Advertising Research
Advertising research studies the advertising of the product. It fixes the advertising objectives. It also fixes the advertising budget. It decides about the advertising
The scope of marketing research is very wide and comprehensive. It includes:
1. Product Research
Product means the goods and services which are sold to the consumers. It includes consumer products and industrial products. Product research studies the individual product. It studies the making and marketing of the product. It studies the colour, size, shape, quality, packaging, brand name and price of the product. It also deals with product modification, product innovation, product life cycle, etc. The product is modified (changed) as per the needs and wants of the consumers. Therefore, the product will not fail in the market.
2. Consumer Research
Consumer is the person who purchases the goods and services. The consumer is the king in the market. Consumer research studies consumer behaviour. It studies the consumers needs, wants, likes, dislikes, attitude, age, sex, income, location; buying motives, etc. This data is used to take decisions about the product, its price, place and promotion.
3. Packaging Research
Packaging research is a part of product research. It studies the package of the product. It improves the quality of the package. It makes the package more attractive. It makes the package more convenient for the consumers. It reduces the cost of packaging. It selects a suitable method for packaging. It also selects suitable packaging material.
4. Pricing Research
Pricing Research studies the pricing of the product. It selects a suitable method of pricing. It fixes the price for the product. It compares the companies price with the competitor's price. It also fixes the discount and commission which are given to middlemen. It studies the market price trends. It also studies the future price trends.
5. Advertising Research
Advertising research studies the advertising of the product. It fixes the advertising objectives. It also fixes the advertising budget. It decides about the advertising