The task of
marketing research (MR) is to provide management with relevant, accurate,
reliable, valid, and current information. Competitive marketing environment and
the ever-increasing costs attributed to poor decision making require that
marketing research provide sound information. Sound decisions are not based on
gut feeling, intuition, or even pure judgment.
Marketing managers
make numerous strategic and tactical decisions in the process of identifying
and satisfying customer needs. They make decisions about potential
opportunities, target market selection, market segmentation, planning and
implementing marketing programs, marketing performance, and control. These
decisions are complicated by interactions between the controllable marketing
variables of product, pricing, promotion, and distribution. Further
complications are added by uncontrollable environmental factors such as general
economic conditions, technology, public policies and laws, political
environment, competition, and social and cultural changes. Another factor in
this mix is the complexity of consumers. Marketing research helps the marketing
manager link the marketing variables with the environment and the consumers. It
helps remove some of the uncertainty by providing relevant information about
the marketing variables, environment, and consumers. In the absence of relevant
information, consumers' response to marketing programs cannot be predicted
reliably or accurately. Ongoing marketing research programs provide information
on controllable and non-controllable factors and consumers; this information
enhances the effectiveness of decisions made by marketing managers.
Traditionally,
marketing researchers were responsible for providing the relevant information
and marketing decisions were made by the managers. However, the roles are
changing and marketing researchers are becoming more involved in decision
making, whereas marketing managers are becoming more involved with research.
The role of marketing research in managerial decision making is explained
further using the framework of the "DECIDE" model:
The DECIDE model
conceptualizes managerial decision making as a series of six steps. The
decision process begins by precisely defining the problem or opportunity, along
with the objectives and constraints. Next, the possible decision factors that
make up the alternative courses of action (controllable factors) and
uncertainties (uncontrollable factors) are enumerated. Then, relevant
information on the alternatives and possible outcomes is collected. The next
step is to identify and select the best alternative based on chosen criteria or
measures of success. Then a detailed plan to develop and implement the
alternative selected is developed and put into effect. Last, the outcome of the
decision and the decision process itself are evaluated.
What is the Role of
Research? Managers and CEOs often want to base their brand decision on
measurable market research. So, how much market research should you do?
Research can never give you all the answers, but it can be effectively used to
understand how target audiences might receive a new idea, or to find a new
market opportunity.
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