Scope of marketing research

Marketing research is a wide area which can be used for various purposes. Marketing research takes all the activities involved in marketing. It starts right from the generation of an idea of a product to till the consumers feedback comes back. The scope of marketing research is:

  Product research and Sales research

Any organization survives because its uniqueness in the product. The uniqueness or quality is being researched. The product research before the launch or after the product launch. It is necessary to find out the acceptance and satisfaction among the consumers about the product design, features, benefits, if there is any modifications etc. Sales research includes the details of sales. This includes the sales performance of the salespeople, sales methods implemented, finding new sales strategies etc. Once the sales research has been done, it will help to understand which the weaker points in sales are. Training and other sales promotional programs can be conducted out of a sales research.

Market research and Advertisement research

Market is the major part of the study for any business. Market pulses such as demand supply should be clearly researched. Each segmentation of a market should be researched. There will be different segmentation based on population, geography, psychology etc. which have to be covered in detail. Advertisement is one of the important facts that lead to sales. Right from the preparation and budget to the analyses of efficiency of advertisement, the market research is done. This includes the study of message, media, result, viewer’s response etc. An advertisement campaign is done after all tests and research made as it involves high risk of rejection and monitory loss.

   Pricing research and Distribution research

 It is the process all about to check how the pricing methods are working among the consumers has certain price exporters. If the price is going beyond or below the expectation, it will reflect on the sales. This has to be researched before and after fixing the price. A firm started pricing with penetration pricing has to sometimes change to skimming price when there is an innovative product comes. Then there will several factors to be researched. Distribution involves the channel through which the product and services reach to the consumer. This is possible through retails, wholesales; brokers etc. there will be lots of problems occurring related to storage, transportation, commission etc. This should be researched to maintain the distribution system efficiently.