MARKETING RESEARCH: A CONCEPTUAL APPROACH

Objective: The requirement of consumers of goods and services are wide and variable. The firms involved in producing goods and providing services always try to fulfill the needs of various consumers and launch new products and apply innovative techniques because their main aim is to satisfy the consumer needs. The main task of marketing management is to fulfill the aspiration of the consumers. It is a human activity directed at satisfying needs and wants through exchange process. It is thus imperative to understand what the consumer want; their sources of information and influences, etc. As such, marketing research is the function which provides the necessary information about the consumer to the marketer. In the process an organization can identify new opportunities in the market; evaluate and monitor marketing actions. Marketing research helps the organizations in planning new strategies which are suitable for majority of consumers. The organizations may go for new products and/or concentrate their marketing efforts on a particular product or particular area. In general marketing research evolve better marketing programme to serve the interests of the consumers. Thus marketing research acts as a vital link between the consumer and the marketer by providing information in a systematic manner.

Design/Methodology: The research paper is based on secondary data collected from     various sources like books, newspaper, journals, magazines, internet.

Findings: Marketing research by itself does not arrive at marketing decisions, nor does it guarantee that the organization will be successful in marketing its products. However, when conducted in a systematic, analytical, and objective manner, marketing research can reduce the uncertainty in the decision-making process and increase the probability and magnitude of success. Moreover, the success of marketing research depends on the intention of the management in the implementation of findings of study.

Limitations: Since the research paper is based on secondary data, it would have been more authenticated if based on primary data

Practical Implications: The research paper helps the organizations in planning new strategies which are suitable for majority of consumers. The organizations may go for new products and/or concentrate their marketing efforts on a particular product or particular area.

Originality/Value: This research paper evolve better marketing programme to serve the interests of the consumers.