Marketing research is the process that links the producers, customers, and end users to the marketer through information used to identify and define marketing opportunities and problems. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyses the results, and communicates the findings and their implications.
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behaviour. The term is commonly interchanged with market research; however marketing research is concerned specifically about marketing processes.
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses, the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.
Market Research Analysts are marketing specialists who help determine an organization’s position in the marketplace in order to effectively promote their products and services. They research competitors and their marketing methods, and study and gather consumer information. Collect data on consumers, competitors and market place and consolidate information into actionable items, reports and presentations