Marketing research is "the function that links the consumers, customers, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. 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."
It is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.
Marketing research is often partitioned into two sets of categorical pairs, either by target market:
- Consumer marketing research, and
- Business-to-business (B2B) marketing research
Or, alternatively, by methodological approach:
- Qualitative marketing research, and
- Quantitative marketing research
Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.
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.
Read more about Marketing Research: Role of Marketing Research (MR), Marketing Research Characteristics, Comparison With Other Forms of Business Research, Classification of Marketing Research, Types of Marketing Research, Marketing Research Methods, Business To Business Market Research, Marketing Research in Small Businesses and Nonprofit Organizations, International Marketing Research Plan, Commonly Used Marketing Research Terms, Careers in Marketing Research
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