SCOPE/BRANCHES/AREA OF MARKETING RESEARCH
The scope of marketing research is very wide and comprehensive. It includes 1. Product Research Product means the goods and services which are sold to the consumers. It includes consumer products and industrial products. Product research studies the individual product. It studies the making and marketing of the product. It studies the colour, size, shape, quality, packaging, brand name and price of the product. It also deals with product modification, product innovation, product life cycle, etc. The product is modified (changed) as per the needs and wants of the consumers. Therefore, the product will not fail in the market. 2. Consumer Research Consumer is the person who purchases the goods and services. The consumer is the king in the market. Consumer research studies consumer behaviour. It studies the consumers needs, wants, likes, dislikes, attitude, age, sex, income, location; buying motives, etc. This data is used to take decisions about the product, its price,...