MARKETING RESEARCH

Jun 29th, 2015
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Research always starts with a question to which we seek an answer using scientific methods. We define the question as a ‘Problem”.

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MARKETING RESEARCHObjective:The objective of this chapter is to understand: The meaning of Marketing Research The difference between basic and applied research The various classifications of Marketing Research The scope of Marketing Research The various methods of Marketing ResearchDefinition of ResearchResearch always starts with a question to which we seek an answer usingscientific methods. We define the question as a Problem.Research is often described as an active, diligent, and systematic process ofinquiry aimed at discovering, interpreting and revising facts.The word research is derived from the French language; its literal meaning is 'toinvestigate thoroughly'.Undertaking research is basically applying scientific methods to find solution toa problem. It is a systematic and explorative study carried out to analyse andapply various solutions to a defined problem.Research can be classified into two broad categories:1. Basic Research and2. Applied ResearchBasic researchBasic research is also called fundamental or pure research. As the name itselfrefers, Basic Research is of basic nature which is not carried out in response to aproblem. It is more educative, towards understanding the fundamentals and aimat expanding the knowledge base of an individual or organisation. It does nothave any commercial potential.Applied researchApplied Research on the otherhand is carried out to seek alternate solutions for a problem at hand. Appl

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