If a business is unknown to customers, it cannot become successful. Customers will not seek out your business. They will gravitate toward those that are familiar, visible, and readily available to them.
Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economyand it aims to understand the effects and comparative success of marketing campaigns.
Competitive marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment.
Managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control.
These decisions are complicated by interactions between the controllable marketing variables of product, pricingpromotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes.
Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers.
Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers. However, the roles are changing and marketing researchers are becoming more involved in decision making, whereas marketing managers are becoming more involved with research.
The role of marketing research in managerial decision making is explained further using the framework of the DECIDE model. History of marketing Evidence for commercial research being gathered informally dates to the Medieval period. Inthe German textile manufacturer, Johann Fuggertravelled from Augsburg to Graben in order to gather information on the international textile industry.
He exchanged detailed letters on trade conditions in relevant areas. Although, this type of information would have been termed "commercial intelligence" at the time, it created a precedent for the systemic collection of marketing information. During this period, Daniel Defoea London merchant, published information on trade and economic resources of England and Scotland.
Defoe was a prolific publisher and among his many publications are titles devoted to the state of trade including; Trade of Britain Stated, ; Trade of Scotland with France, and The Trade to India Critically and Calmly Considered, - all of which provided merchants and traders with important information on which to base business decisions.
Produce, household goods and tools were produced by local artisans or farmers with exchange taking place in local markets or fairs. Under these conditions, the need for marketing information was minimail.
However, the rise of mass-production following the industrial revolution, combined with improved transportation systems of the early 19th-century, led to the creation of national markets and ultimately, stimulated the need for more detailed information about customers, competitors, distribution systems and market communications.
A study of the German book trade found examples of both product differentiation and market segmentation as early as the s. InAmercian advertising agency, N. Parlin published a number of studies of various product-markets including agriculture ; consumer goods c.
Duncan of the University of Chicago. InArthur Nielsen founded market research company, A C Nielsen and over next decade pioneered the measurement of radio audiences.
He subsequently applied his methods to the measurement of television audiences. Around the same time, Daniel Starch developed measures for testing advertising copy effectiveness in print media newspapers and magazinesand these subsequently became known as Starch scores and are still used today.
During, the s and s, many of the data collection methods, probability sampling methods, survey methods, questionnaire design and key metrics were developed.
By the s, Ernest Dichter was pioneering the focus group method of qualitative research. These methods eventually lead to the development of motivational research.Business success is based on consumer knowledge. If a business is unknown to customers, it cannot become successful.
Customers will not seek out your business. & Developing A Marketing Plan “Research is creating new Your market research will also assist you in developing a marketing plan for your business. Sample Survey Hello, my name is Sara Smith and I am conducting a survey to determine the potential for a roofing.
Explore survey and questionnaire examples. Use our FREE sample survey questionnaire templates and get your research started today. In the Market Analysis section of a business plan, you will have to answer many market research questions. Here is how to do research for a Business Plan. Top 20 Consumer Market Research Questions.
Feedback & Surveys.
It will show you key questions you can ask potential customers to determine if your business idea is feasible. Below are 20 questions to consider for your consumer market research survey: Demographic Questions.
Lively and accessible, Market Research in Practice is a practical introduction to market research tools, approaches and issues. Providing a clear, step-by-step guide to the whole process - from planning and executing a project through to analysis and presenting the findings - it explains how to use tools and methods effectively and obtain the most .