Marketing research and analysis

Marketing research is involved with the linking of the manufacturers, intermediaries and the customers through information. It helps in identifying the recent trends in habits and behaviours of consumers through a research process. Some of the key applications of this study is to create a better product, decide the right price, distribution system and the promotional mechanism to attract customers and make a difference within the competition. It uses research tools in understanding the customer and segmenting the market. Some of the research tools are qualitative and quantitative in nature as well. Some of the frequently used techniques are like focus group study, TAT, projective techniques, regression analysis, factor and cluster analysis, discriminant analysis , structural equation modeling, multidimensional scaling and conjoint analysis etc. and other multivariate techniques.