Career Tips- Marketing Management-Marketing Research
Marketing as a career can be a rewarding one, especially if you are in the field of marketing research. The world over, this segment of marketing has gained immense popularity as firms employ trend spotters to analyze the trends in customer behavior and market segmentation. Marketing research has not gained in popularity in India, but many top-notch companies do employ research specialists to understand the importance of the marketplace. As such, collecting data from consumers has not reached a substantial level in India. There are various types of marketing research such as ad-hoc research, continuous research like consumer panels, retail audits and TV viewership panels.
A typical marketing research company employs many stages in the research process like the initial contact, the research brief, the research proposal, the main data collection stage, data analysis and interpretation, and finally report writing and presentation.
Sampling the population for such research is vital, as you can get good demographic indicators to buying trends in the market. The various types of customer feedback can be obtained by face-to-face interviews, telephone interviews, mail surveys and internet surveys. This process has not taken shape in India as companies do not find the investment suitable and take it as an unnecessary expense. This can be really debilitating for the company as an analysis of the market and the approach to marketing strategies requires a lot of effort and is a must in any company’s marketing department.
Companies abroad go as far as to set up marketing information systems similar to the MIS systems currently applied in companies in India. A marketing information system is a system in which marketing information is formally gathered, stored, analyzed and distributed to managers on a regular planned basis.
Thus Marketing research can be a useful tool for companies to analyze their markets and resort to market segmentation according to the data they get.
Neha Singh
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