CHAPTER TWO
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.
- THEORETICAL FRAME WORK
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)
- DEFINITION: MARKETING
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