The increase in trade and the emergence of corporations resulting from increased globalization of business have had a major impact on all facets of business, including marketing research.
The increase in competition, coupled with the formation of regional trading blocs has spurred the growth of corporations and need for marketing research.
The need to collect information relating to international markets, and to monitor trends in these markets, as well as to conduct research to determine the appropriate strategies that will be most effective in markets.
The task of marketing research is to find a sizable segment with homogeneous tastes. The growing presence of a market in Thailand has been influenced by both domestic and foreign markets.
Marketing research links the organization with its market environment. It involves the specification, gathering, analysis, and interpretation of information to help management understand that particular market environment, identify its problems and opportunities, and develop and evaluate course of marketing action. Marketing research, to be effective, should be relevant, timely, efficient, accurate, and ethical.
The choice of a research approach depends on the nature of the research that each client wants to do. Anyway all research approaches can be classified into one of three general categories of research: exploratory, descriptive, and casual.
Exploratory Research is used when one is seeking insights into general nature of a problem, the possible decision alternatives, and relevant variables that need to be considered.
Descriptive Research embraces a large proportion of marketing research. The purpose is to provide an accurate snapshot of some aspect of the market environment.
Casual Research shows that one variable causes or determines the values of other variables, a casual research approach must be used.