Assignment no- 1

Topic : 1.Seven Characteristics of Good marketing research

2. Overcoming Barriers to the use of marketing research

Prepared For

Mr. Mirza Ahsanul Hossain

lecturer

College of business administration

Prepared By

Tasnim Mahzabin

ID- 18104001

Program: MBA

Spring 2018

Submission Date :
1.Seven Characteristics of Good marketing research

Marketing research is one of the important functions of marketing management. It is also one of
the components of MIS. A marketer needs to keep watch on marketing environment to find out
opportunities and to face challenges. For this task, marketing research is inevitable. There are
seven characteristics of good marketing research. They are given below

NUMBER ONE: Effective marketing research uses the principles of the scientific method –
observation, hypothesis, prediction and testing. Since the goal of conducting a marketing
research project is to uncover useful information, how we conduct our research is vitally
important. Good research follows this standard process.

NUMBER TWO:Good marketing research develops innovative ways to solve a problem.

This requires some levels of creativity in our research.

NUMBERTHREE: Reliable marketing research uses multiple methods to acquire data and
shy away from over-reliance on any one method. In research, it’s important to adopt the
research to the problem. Good research recognizes the value of using multiple methods and
sources to achieve reliable information.

NUMBER FOUR:Savvy marketing researchers recognize the interdependence of research

models and the data collected. The research model we choose will ultimately determine the type
of information, its validity, and our ability to act based on findings. Therefore, always base the
research efforts on solid models that are clearly defined and as explicit as possible.

NUMBER FIVE:Smart marketers understand the relationship between the value of

information and its cost. There are always lots of questions to be asked and problems to be
solved. However, to steward resources effectively, marketers need to consider the cost of market
research, the value of the information gathered, and the likelihood of management’s ability or
willingness to act on such information.
NUMBER SIX:Good marketing researchers show little reliance upon glib or stereotyped
assumptions made by managers about how a market works. Often times, those in the midst of a
market are unable to clearly see the market. The “forest through the trees” scenario applies here.

NUMBER SEVEN:Responsible marketing research is a win-win-win situation. It shows a

healthy respect for the company, the product and the customers and never tries to harm or take
advantage of customers.

So, there you have it. Seven ways to ensure your research is
going to be useful and action-oriented when you're finished.
And, hopefully, this wasn't too long of a post! :-)
2. Overcoming Barriers to the use of marketing research

In spite of the rapid growth of marketing research, many companies still fail to use it sufficiently
or correctly. Several factors can stand in the way of its greater utilization.

1. A narrow conception of marketing research:Many managers see marketing

research as only a fact-finding operation. The marketing researcher is supposed to design
a questionnaire, choose a sample conduct interviews, and report results, often without
being given a careful definition of the problem or of the decision alternatives facing
management. As a result, some fact finding fails to be useful. This reinforces
management's idea of the limited usefulness of some marketing research.
2. Uneven caliber of marketing researchers:Some managers view marketing
research as little better than a clerical activity and reward it as such. Poorly qualified
marketing researchers are hired, and their weak training and deficient creativity lead to
unimpressive results. The disappointing results reinforce management's prejudice against
expecting too much from marketing research. Management continues to pay low salaries,
perpetuating the basic difficulty.
3. Late and occasional erroneous findings by marketing research :Managers
want quick results that are accurate and conclusive. But good marketing research takes
time and money. If they can't perceive the difference between quality and shoddy
research, managers become disappointed, and they lower their opinion of the value of
marketing research. This is especially a problem in conducting marketing research in
foreign countries.
4. Intellectual differences:Intellectual divergences between the mental styles of line
managers and marketing researchers often get in the way of productive relationships. The
marketing researcher's report may seem abstract, complicated, and tentative, while the
line manager wants concreteness, simplicity, and certainty. Yet in the more progressive
companies, marketing researchers are increasingly being included as members of the
product management team, and their influence on marketing strategy in growing.