Marketing is often associated with the promotion or advertising of products and services of a business. There is, however, more to successful marketing than advertising flags and gimmicks. The last several decades have shifted the focus of businesses from production to marketing. Creating high quality products is no longer enough for a business to succeed. You need to make your target consumers want your products. You need to create products and offer services that the consumers want. This the modern marketing world.
Whether a business is involved in manufacturing or retailing, the aim of marketing stays the same. That is, to offer goods that customers want. A part of marketing that finds out what the customers want is called market research.
Marketing e research tries to analyze marketing problems in a scientific way. It studies people and examines their habits, preferences, purchasing power and other qualities as buyers and sellers. It tries to evaluate the different segment of population. How to people in high-income group behave? How are teenagers and senior citizens alike or different in terms of buying behavior?
Through marketing research, a business can determine the best product to produce or sell, how to promote it and the way it is price. Brand names and packaging design are other fine points that are affected by marketing research.
There are many subareas that marketing research is divided to. An advertising research, for example, tries to determine the effectiveness of different forms of advertising and to find out the best medium for attracting customers. Market analysis is another subarea that allows for the estimation of the sales potential of certain products. These are just some of the many areas that are covered by marketing research.