Concept Market Research Definition

1. Concept market research

It can be defined as the collection and analysis of information regarding the world of business and market systematically made or expressed, to make decisions within the field of strategic and operational marketing.

It is ultimately a powerful tool that should enable the company to obtain the information necessary to establish different policies, objectives, plans and best suited to their interest’s strategies.

The American Marketing Association (AMA) defines it as: "the systematic collection, recording and analysis of data about issues related to market goods and services".

The research sector in Spain continues to fall. In 2013 the net turnover decreased by 5.5% and reached 438.2 million euros. By contrast, the

interdisciplinary nature of market research

In order to successfully carry out a market analysis, you need to apply diverse knowledge acquired through the following subjects:

• Applied economics, psychology and sociology. To the extent that the functioning of the economic system is based on market decisions analysis of consumer behavior needs knowledge of psychology; sociology is necessary to study groups and market institutions ...

• The philosophy for the outstanding importance of logic in applied research.

• Statistics and mathematics for his fundamental contribution to the quantification of the facts found in the investigation.

• Communication, the dialogue that takes place permanently in different media and social media , both off and online .

• Business management, as the objectives pursued with the research are closely linked to design a strategy and the fulfillment of sales targets, prices, products and distribution.

• Innovative capacity, applied to the development of new effective and differentiated methods in the design of cost-effective solutions.

1.2. Contribution of market research

1.2.1. In making basic decisions

Market research provides the information necessary for the maturation of basic and far-reaching decisions of the company that require careful analysis of the

which are available tothe analyst, which are a very valuable resource and that in most cases are not used, despite the immediacy with which are achieved, in addition to the information that is available on the network that day day increases exponentially, not to say that for many managers and companies is the only source flock.

Once chosen the possible sources of data, we evaluate them, taking into account the following aspects:

• Reliability.

• Font source.

• Degree of obsolescence.

• proven validity.

The data sources can be divided into internal and external. Internal are those whose information obtained comes from the company itself. This is the most favorable case for research teams, as the continuous updating of the data held by the company itself is a valuable source of information. External are those that come from different non-business organizations, publications, internet, etc.

To indicate, by way of example, a number of publications and studies whose informative content requires throughout Spanish company.

• National Statistics Institute (INE).

• Yearbooks credit institutions.

• Sociological Research Centre (CIS).

• ICEX sector