Marketing Research Report

[Name of the Institute]

Executive Summary

The business environment generally and marketing especially is now confronting with new challenges of market competitiveness and customer's satisfaction. There are also other marketing problems, such as consumer's resistance, product management, market competition, promotional activities regarding sales and many more.

In every company, marketing research is a special department and heart and sole of product management. It has recently been developed and a lot of research and study is being done on it to make it more instrumental for business. With this, the concept of integrated marketing has replaced mass marketing, as people have now become more brand and status conscious. They prefer comfort and luxury over price.

The objective of the study is to highlight the use of marketing research in finding the solutions of different problems. The paper also discusses the use of research theories in marketing.

A marketing manager in the company has a very important role to play in designing strategies to overcome marketing issues, such as resistance to innovation. The corporate progress depends upon the effective marketing theories and strategies. Identifying a corporate situation and planning and designing to take the company out of the situation is the prime responsibility of a marketing manager.

As far as the resistance to innovation is concerned, every change faces it at the time if its introduction in the market, because it is in conflict with the previous beliefs and traditions of the consumers. Consumers take the change as major threat o their daily routine. So they try to resist it as much as they can. The major barriers from the consumers are functional and psychological. Functional barriers are related to the usage, value and risk factors. The psychological barriers have effects on culture, society and religion. Both types of barriers can be overcome by adopting skilfully designed strategies. Marketing Research Report

Introduction

There are a number of marketing problems faced by a company. They include consumer's resistance, product management, market competition, promotional activities regarding sales and many more. Marketing research is a tool that is a perfect solution to these kinds of problems in a company (Albaum, 2012). In a business environment, marketing research can be defined as a systematic process, which first collects information about the identified marketing problem and after recording the data, it is analysed by marketing managers for drawing meaningful conclusion. In the light of these conclusions, recommendations and suggestions are presented to successfully solve the marketing problem (Kumar et al., 2012).

To a company, marketing is systematic process of developing a plan and execute it on the basis of promotion, pricing, ideas, goods and services in order to achieve organizational objectives. The main objective of marketing is to satisfy customer and then work for market maximization. Customer's satisfaction is in the best interest of the company and its successful completion in the market (Kumar et al., 2012).

Marketing research is a very significant part of marketing intelligence. It improves and helps in making effective marketing decisions as it provides accurate, relevant ...