EXTRACTED FROM REVIEW OF LITERATURE
It’s necessary to review the need for marketing
research in an industry. However, it does not have to be that way, but
because many companies and even industries have failed to take
marketing research important in product development.
Marketing managers and other professionals are now relying more on
marketing research in product development to make better decision
clearly, marketing research is vital to marketing decision making.
Robert Ferber asserted that “before the product is produced, market
survey must be conducted in other to ascertain the acceptance of the
product in marketing sphere”. He went further to buttress his fact by
sating that just as the efficiency of production is dependent on
product research, so also the efficiency of marketing depends on
marketing research.
Marketing research he notes refers broadly to the development of
the most efficient means of marketing, that is the discovering of new
and better methods of marketing, more economical means of distribution,
new market, better means of selling and other marketing aids.
Marketing concept has become firmly established in many organizations.
Marketing research focus on understanding consumers buying habit in
relation to development in product research.
A research of this nature will be incomplete without insight into
existing related literature on the subject under study. Literature
survey therefore, is described as “A research of strategies trade
journals, Articles, Magazines, Newspapers and boos for data or for
insight into the problem at hand”.
For the purpose of this study, the researcher has relied more on
the contribution of authors from Britain and United State of America
who have published articles on marketing research, also those of
Nigeria contributions in this field of study.
Marketing is generally interpreted today as
including all those business activities concerned with the development,
production and distribution of product to identifiable market, where
they will provide satisfaction to those who buy them.
Marketing research therefore, covers product development,
identifying the market and suitable method of selling, distribution,
promotion, pricing and sales service facilities. Marketing research has
an advisory role in marketing management. It is used to acquire and
analyze information and to make recommendations to management as to how
marketing problems should be resolved. Tall and Hawken’s (1980:1)
Different association, group and organizations
tried to solve the problem which the question “what is marketing” has
created, but seems they looked at marketing from different perspective.
In this study the following definitions by marketing scholars are
considered.
William J. Stanton, (1975) in his book, foundamentals of
marketing, defines marketing as “ the total system of interacting
business activities, designed to plan, price, promote, and distribute
want-satisfying product and services to present and potential consumers
”.
The American Marketing Association (AMA) in its own definition
says that “marketing is the performance of business activities that
direct the flow of goods and services from the producers to the
consumers”
The institution of marketing (London) defines marketing as the
“management process which is responsible for identifying anticipating
and satisfying consumer’s requirement profitably”.
Marketing is about identifying and meeting human and social needs.
The above definitions receive credit because they have considered
marketing from identification of needs, wants, users, and effective
communication to the level of satisfying them through effective
promotion and distribution of these wants.
RESEARCH
The oxford advance learners dictionary defines research as careful
investigation carried out in order to discover new facts, ideas and
information’s about subject matter.
Research is a process of finding out. It is a scientific method of
controlling enquiry. It identifies problems and attempts to find
solution to these problems. In doing this, research ask question, tells
why is important, describes how it answered and interprets it briefly
to the users.
MARKETING RESEARCH
Philips R. Cateora and John L. Graham (2005) defines marketing
research as the systematic gathering, recording and analyzing of data
to provide information useful in marketing decision making.
British institute of management (1962) as “the objective
gathering, recordings and analyzing of all fact about problems relating
to the transfer and sales of goods and services from producer to
consumer”.
Geen and Tull (1970) define marketing research as consisting of a
systematic and objective collection as well as appropriate analysis of
information that will provide solution to all marketing problems.
According to Philip Kotler 13th edition, marketing research is the
systematic design, collection, analysis and reporting of data and
findings relevant to a specific marketing situation facing company.
From the above definitions, on can say clear that marketing
research as an essential management tool that executive can use in
inducting the risk in the environment of operation by obtaining
potential information and putting the resources at the disposed of the
manager in order to move the organization forward.
THE MARKETING RESEARCH PROCESS
Effective marketing research follows six steps which is shown in the figure below