Characteristics of Marketing Research
A good marketing research must possess the following characteristic features,
1. Objectivity
Objectivity helps in determining the unbiased solutions to the marketing decision-making problems. The personal views and opinions of researcher with respect to the solutions of marketing research problems are not taken into account in objective marketing research.
2. Relevancy
Relevancy is one of the characteristic features of a good marketing research. Relevancy makes sure that, irrelevant information is not collected along with its related cost. The information gathered is compared with the decision makers criteria for action to assess the relevancy.
3. Systematic
A good marketing research must follow a systematic approach. All the steps of the marketing research process must be planned in such a way that the completion of one step results in the beginning of the next step. In a systematic approach, the researcher cannot go back to the previous steps for correcting the errors. Systematic approach helps in planning and organizing the steps which are dependent on each
4. Reproducible
A Reproducible research process can be copied by the researcher having same level of competency and can attain the similar outcomes from the research process. In order to develop a such marketing research process, each and every procedure relating to the questions used, sampling methods, data collection methods and so on must be specified in detail.
5. Controllable
The last characteristic feature of a good marketing research is Controllability. The factors which may create problems in the marketing research process must be controlled. The control feature must take into account two aspects, which are as follows,
- Uncontrollable factors must be recorded.
- Controllable factors must be classified on the basis of the nature of investigation.
Objectives of Marketing Research
The main objectives of marketing research are as follows,
- To gain knowledge about the concept, or to identify new concepts from it. These objectives of Marketing Research helps in acquiring the knowledge and act as a guiding force to obtain a good quality of research work which is independent of any material incentive.
- The main purpose of Marketing Research, is to gain knowledge about the marketing culture, marketing environment and marketing decision process so that, the firm can have greater marketing control.
- To ascertain the frequency with which a specific thing takes place or with which, it is related to something else.
- To identify the cause and effect impacts by testing a hypothesis or a casual relationship among the variables.
- To provide information related to manufacturers, retailers, suppliers of various types of services.
- To provide solutions to the problems of the business and industry relating to marketing.