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Tuesday, 11 September 2018

Types of Information Produced by marketing Research

     They are certain essential group of information required by every marketing manager, for planning and control purposes. Marketing research in this case please a certain role in supplying information for the planning and control functions. These information are :  i. eveloping the objectives,
ii. Allocating the marketing resources and
iii. Evaluating performance.
Barnes (1991) has categorised the types of information supplied by marketing research as strategic information and tactical information.

1. Strategic information :  Strategic information is the type of information required to develop long-term competitive strategies which will lead to expansion and growth of a firm. Some marketing research projects are designed to provide strategic information, which can be used for planning purposes. For example business regularly engages in the examination of market opportunities, the study of economic forecasts, and the review of market trends and competitive activity.

2. Tactical information : The marketing researcher is also interested in producing tactical information, which will help in improving the performance or effectiveness of the marketing program. In this case, tactical information is required to meet the short-term marketing needs. It is with current problems relating to the various elements of marketing Mix. Most successful or competent marketers continually review and modify their product lines, advertising and any other aspect of promotional programs, pricing strategies and distribution channel, based on tactical information collected.

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