The Market Research Process

A research is a methodology study of the given problem which is considered as a prominent tool because it is the first step of the marketing process.

Market research is defined as a research that pertains to market. Market research is where one will dig into things like market players, market trends, target market attributes, customer wants and needs

According to (Malhotra & Birks, 2007) Marketing research on the other hand involves research related to marketing. Marketing research aims at gathering information on all aspects of marketing. Information collected is used to identify and define marketing opportunities and problem; to generate, refine and evaluate marketing actions; and to improve the understanding of marketing as a process and

Stage 4: data collection

The process starts with a more thorough collection and analysis of secondary data sources. Going through this stage avoids replication of work and gives guidance in sampling plans and in deciding what to measure using quantitative or qualitative analysis. Secondary data collection and analysis may complete the research process. The secondary data forms a vital foundation and essential focus to primary data collection. (Fink, 1995)

Stage 5: data preparation and analysis

Data preparation includes the editing, coding, transcription and verification of data. The stage of data preparation and analysis is essentially the same for both quantitative and qualitative techniques, for data collected from both secondary and primary sources (Higgins, 2002).

If the data to be collected are quantitative, the analysis process can occur as the data are being collected, well before all observations or interviews have been completed. If the data to be analyzed are qualitative, each questionnaire or observation form is inspected and if necessary, corrected.

Stage 6: report preparation and

It answers the questions; what to sell, where to sell, when to sell, how to sell. Market research also sells forecasting. It estimates the demands for new products, fixes territories and sales quotas.

Marketing research on the other hand, collects and analyses data for solving marketing problems. Marketing research aids in taking marketing decisions, facilitates in controlling the marketing activities. It is very systematic, scientific and objectives (Malhotra & Birks, 2007).

1.3.1 Objectives:

The main objective of market research is to study the entire market and fix territories and sales quotas while that of marketing research is to solve marketing problems, find out present and future marketing opportunities.

1.3.2 Scope:

The scope of market research is limited, only studies the market while that of the marketing research is very wide which covers all areas of marketing. Such areas include the product research, packaging research, pricing research, marketing research and sales research.

1.3.3 Relations:

Market research is a branch of marketing research while marketing research is a branch of marketing information system.

1.3.4