Scope of Market Research

Market research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

Market researchers have expanded their activities and techniques. The ten most common activities of market research are –

  1. Determination of marketing characteristics

  2. Measurement of market potentials

  3. Market share analysis

  4. Sales analysis

  5. Studies of business trends

  6. Short range forecasting

  7. Competitive product studies

  8. Long range forecasting

  9. Pricing studies, and

  10. Testing of existing products