– It is the systematic and objective search for and analysis of information relevant to the identification and solution of problems in the field of marketing.

– It involves collecting, recording and making the sense of all the available information which will help the firm to understand its market.

– In marketing research, the researcher should identify the problems in each market functionaries, channel, supply chain, consumer interest and attitude about business product etc. and conduct social, behavioral or economic based researches.

– There are several research methods household survey, FGD, RRA or PRA tools could be used. The questionnaire or checklist need to be developed and analyze collected facts by using statistical tools.

There are five major areas of marketing research which are as follows:

A) Research on markets—market trends, market share, market potentials, market characteristics etc.

B) Research on sales—sales analysis, sales forecasting, sales performance measurement, trade channels,etc.

C) Research on products—new product, product features, brand image, product tests etc.

Research on advertising and promotion—promotion concepts, media research, advertising effectiveness measurement etc.

D) Research on corporate growth and development—profitability measurement, technological forecasting, corporate planning inputs etc.