BBA - 3000

ASSIGNMENT 01 - TERM PAPER

Overviewing Influence of Marketing

Research on Marketing Decision
Making
(Appreciate the use of marketing research in marketing decision making)

Name

K.P Warshamana

Reg No

MF/2012/3520

Subject

BBA 3150 : Marketing Research

Coordinator

Dr. P.A.P Samantha Kumara

Department of Marketing
Faculty of Management and Finance
University of Ruhuna

Table of Contents
01. Executive Summery .......................................................................................................................... 2

02. Introduction ....................................................................................................................................... 2

03. Defined Marketing Research ............................................................................................................ 2

04. Literature Review.............................................................................................................................. 3

05. Role of Marketing Research ............................................................................................................. 3

06. Conclusion ........................................................................................................................................ 4

07. References ......................................................................................................................................... 4

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01. Executive Summery

This report has provided unique idea about Influence of marketing research on marketing
decision making. Initially this report introduces the marketing research considering the
current situation in the business world. After that it provides needed literature review to the
marketing research, as well, how it relates with the decision making. In particularly, describe
how marketing research affect to marketing decision making as well as limitations of
marketing research to make good decisions in the organization.

02. Introduction
In simply, Research can identify as the production of new knowledge by using scientific
methods. Marketing research is using to make more accurate decisions by the marketers
because effective decision making has become complex with the ever changing business
environment. Marketers can know information in variety of way but the best source of
information is marketing research. This report provides an overview to how marketing
research affects marketing decision making.

03. Define Marketing Research

Marketing Research is the systematic and objective identification, collection, analysis,
dissemination, and use of information for the purpose of assisting management in decision
making related to the identification and solution of problems and opportunity in marketing
According to this definition each step of the research process is important. Initially define a
marketing problem or opportunity and then recognize the information requirement to
investigate it. Next, relevant information sources, methods are identified by considering
appropriateness. Then collected data are analyzed, interpreted and make tables and charts.
Finally the findings, implications and recommendations are provided base on the researched
information.
In recent years, marketers are getting access to a wide variety of tools and techniques to
improve their hunt for information .Today marketing companies are developing internet
based technologies (online survey services) and benefited from other technological
improvements.
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04. Literature Review

The concept of marketing research was developed in the late 1920s by a man named
Daniel Starch. Thenceforward many specialists published different ideas about marketing
research. Following literature review help to understand how marketing research related with
marketing decision making.
A. S Bhambra (1999) , The essence of marketing is that a firm will make what it can sell,
rather than what it can make. Marketing therefore requires an assessment of consumer needs
through market research and the orientation of all firms activities towards the satisfaction of
those needs
Naresh K.M said The task of marketing research is to assess the information needs and
provide management with relevant, accurate, reliable, valid and current information. Todays
competitive marketing environment and the ever increasing costs attributed to poor decision
making require marketing research to provide sound information.
Marketing research provides data about the effectiveness of the current marketing mix and
offers insights into necessary changes. Moreover marketing research is the primary tool for
exploring new opportunities in the marketplace.

05. Role of Marketing Research

Marketing research can be recognized as the foundation of marketing that positively impact
marketing dictions making in order to be viewed favorably by customers and to stand up to
competition and other external pressures. Marketers must have timely decision making
information that information requirement fulfill by marketing research as a primary channel.
That information should have relevant, reliable, valid accurate and current information and
also should cover needed forces in the marketplace.
It impact to get clear picture about the market and make decisions to overcome competitors.
Good research may suggest multiple options for introducing new products or entering new
markets that impact to reduce the decisions making risk. Consequently, all areas of marketing
and all marketing decisions should be supported with some level of research. Today research
is a key to marketing decision making, it does not always need to be elaborated to be
effective. Because sometime quick search on the internet provides the needed information.

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However marketers are moving to implement an elaborated research to make valuable

decisions about the project that impact to increase the effectiveness of the project.
A,S Bhambra (1999) said Marketing research is not a substitute for management decision; it
is an aid to making better decisions by providing additional information relative to specific
marketing problems.
Therefore results of marketing research not to use as only input in making decisions that
may consider many factors, including managements own judgment. However management
moves to make bias decisions considering only the results of the research. That can badly
impact to the decisions without concerning other major factors.
And also marketing research requires strict controls in order to produce relevant
information. The results of research can be 100% correct but the decisions can be wrong
because of rapid changes of business environment.

06. Conclusion
This report describes how marketing research affect to marketing decision making. Today
marketers try to implement research simply and simple through using new technology.
However role of marketing research in marketing decision making cannot abate.
But most marketers decisions are still made without the use of formal research because of
cost and time of obtaining data. Ultimately, marketers make decisions on the basis of a blend
of facts and intuition.
Saunders et al. (2009) There is no one best way for undertaking all research, therefor
marketers should try to implement an own research to make more accurate decisions.

07. References

Naresh K.M (2004) Marketing Research: an applied orientation.4 th edn . India

Bhambra A.S (1999) Principles and Functions of Marketing Research - India

Saunders, M.N.K.,N Lewis.P., and Thornhill, A. (2011) Research Methods for
Business Students. 5 th edn.India

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