Application of Marketing Research

1. Research on Markets:

This includes market trends, market share and market potential. It is a study of the size, location, nature and characteristics of markets; and market is segmented on the basis of many variables-age, sex, income, education, occupation, religion etc. In short, it can be restricted to the study of “who, what, where, when, why and how” of actual and potential buyers.

2. Research on Sales:

It covers sales forecasting, quota selling, sales territory design and other sales related activities. It analyses sales volume, salesman performance data, new product performance in test markets, opinion on customer-related product data etc.

3. Research on Product:

It involves new product development, brand image, concept tests, product tests, test marketing of new product etc. It analyses the strength and weakness of present products in relation to diversification, simplification etc.

4. Advertising and Promotion Research:

It includes media research, copy research, merchandising, packaging and measuring and effectiveness of various methods of advertising and promotion.

5. Corporate Growth Research:

It emphasizes the studies on economic and technological forecasting, measuring company image, profitability measurement, merger, acquisitions, location etc.

6. Business Economic Research:

It is concerned with economic forecasting and business trend analysis. Planning and product mix, price and profit analysis etc. are included.