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Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
Journal of Marketing Research is a bimonthly peer-reviewed academic journal published by the American Marketing Association. It was established in 1964 and covers all aspects of marketing research. [1] [2] [3] According to the Journal Citation Reports, the journal has a 2020 impact factor of 5.000. [4] The founding editor was Robert Ferber.
Market analysis; Market Opportunity Navigator; Market research and opinion polling in China; Market surveillance; Marketing experimentation; Marketing intelligence; Marketing research mix; Marketing research process; Media context studies (Advertising research) Media Technology Monitor; Media-Analyse (Germany) Mendelsohn Affluent Survey; Mind share
In a marketing experiment, you may adjust a value within the 4 P's of marketing, or marketing mix. These consist of product, price, place, and promotion. For example, you may run an experiment in which you compare two prices for the same product, to see whether one price-point results in higher overall revenues compared to the other.
Qualitative marketing research involves a natural or observational examination of the philosophies that govern consumer behavior. The direction and framework of the research is often revised as new information is gained, allowing the researcher to evaluate issues and subjects in an in-depth manner.
The marketing research process is a six-step process involving the definition of the problem being studied upon, determining what approach to take, formulation of research design, field work entailed, data preparation and analysis, and the generation of reports, how to present these reports, and overall, how the task can be accomplished. [1]
For example, if the monetary benchmark allocated a score of 10 to annual spend over $500, for a customer who had made three purchases in the last year, the most recent being 3 months ago, and spent $600 in the year, their scores would be: R=7; F=3; M=10. [2]
Quantitative marketing research is the application of quantitative research techniques to the field of marketing research.It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the "four Ps" of marketing: Product, Price, Place (location) and Promotion.