Sources Of Marketing research

Marketing research is the means by which the information necessary to run a business is obtained.

It is the gathering, recording, and analysis of all facts about problems relating to the transfer and sale of goods and services from producer to consumer.

Marketing information can be collected from the following sources:

Primary Sources
1. Customers: Consumers being the final users of products or services can be an invaluable source of primary data. A representative sample of consumers may be selected and information obtained from them regarding the quality, design, package, price, etc. of the firm’s products.
2. Dealers: The dealers can provide information about the marketing policies of the competitors.
3. Salesman: Salesmen remain in personal contact with the customers. They can, therefore, supply data to the marketing manager relating to the buying habits and preferences of customers.

Secondary Sources
1. Press: Newspapers like the Economic Times and Magazines like Business Today and trade directories regularly publish data about various industries.
2. Government Publications: Bulletins, periodicals, journals and magazines of different ministries and departments of the Central and State Government.
3. Publications of financial institutions: Publications of Reserve Bank of India, public financial institutions and commercial banks.
4. Foreign governments and international agencies: Publications of agencies like the United Nations, the World Bank, the ILO, UNCTAD and the IMF.
5. Publications of trade associations: Trade associations and Chambers of Commerce collect and publish useful data for the benefit of their members.
6. Private concerns and research institutions: Business data published by research institutes like National Council of Applied Economic Research, Indian Institute of Foreign Trade, etc.