what is the meaning of market reasearch?

Question

on what topics we have to do the market reasearch

Answer 1

(m)

The collection and analysis of information about consumers, market niches, and the effectiveness of marketing programs.

Research is the search for and retrieval of existing, discovery or creation of new information or knowledge for a specific purpose. Research has many categories, from medical research to literary research. Marketing research (also called consumer research) is a form of business research. It is a form of applied sociology which concentrates on understanding the behaviours, whims and preferences, of consumers in a market-based economy. The field of marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.



Types of marketing research
Marketing research techniques come in many forms, including:

test marketing - a small-scale product launch used to determine the likely acceptance of the product when it is introduced into a wider market
concept testing - to test the acceptance of a concept by target consumers
mystery shopping - An employee or representative of the market research firm anonymously contacts a salesperson and indicates he or she is shopping for a product. The shopper then records the entire experience. This method is often used for quality control or for researching competitors' products.
store audit - to measure the sales of a product or product line at a statistically selected store sample in order to determine market share, or to determine whether a retail store provides adequate service
demand estimation - to determine the approximate level of demand for the product
sales forecasting - to determine the expected level of sales given the level of demand. With respect to other factors like Advertising expenditure, sales promotion etc.
customer satisfaction studies - exit interviews or surveys that determine a customer's level of satisfaction with the quality of the transaction
distribution channel audits - to assess distributors’ and retailers’ attitudes toward a product, brand, or company
price elasticity testing - to determine how sensitive customers are to price changes
segmentation research - to determine the demographic, psychographic, and behavioural characteristics of potential buyers
consumer decision process research - to determine what motivates people to buy and what decision-making process they use
positioning research - how does the target market see the brand relative to competitors? - what does the brand stand for?
brand name testing - what do consumers feel about the names of the products?
brand equity research - how favorably do consumers view the brand?
advertising and promotion research - how effective are ads - do potential customers recall the ad, understand the message, and does the ad influence consumer purchasing behaviour?

Answer 2

The collection and analysis of information about consumers, market niches, and the effectiveness of marketing programs.

Answer 3

If you don't do enough market research then you are not ready to run a business. Research can mean the difference between success and failure.

Answer 4

you're asking what is the meaning of knowing the weather before you go sailing?
what is the meaning of being a salesperson without knowing who to sell to...

u just have to do it to know who ur selling it to, and how to best advertise and sell your product,
basically, the most effective way to operate in the mkt

Answer 5

it is to kwow where to locate your bussiness,make inquiries from other traders, enter the trading comptition by advertising your items