Market Research V/S Marketing Research:
The two terms “market research” and “marketing research” are used interchangeably though there is difference in the meaning and scope of the two terms. “Market research” is used as a popular synonym for “marketing research”. Market is a part of marketing and market research is only a part of marketing research. It covers only a few aspects of marketing. According to Philip Kotler, the term “market research” is accurate for describing research into the market, its size, geographical distribution, income and so on. However, it fails to cover the idea of research into the effects of marketing efforts on the market for which the term “marketing research” is more accurate. MR is increasingly coming into favor as the term that describes both ideas. Marketing research need not be treated as pure academic research. It is a type of applied research with scientific orientation.
Distinction between market research and marketing research
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Dimension |
Market Research |
Marketing Research |
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Meaning |
Market research directly relates to market situation i.e. size, location, market competition and features of customers. It provides details about the market for decision-making and policy framing. | Marketing research is a systematic and comprehensive search/study of different aspects of marketing – including the current marketing problems and challenges for decision-making & policy framing. |
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Nature |
Market research is a branch of marketing research.
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Marketing research is one branch of Marketing Information System. |
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Scope |
The scope of market research is limited/restricted to the study of market or market situation
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The scope of marketing research is comprehensive & wide as it covers all aspects of marketing. |
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Type of term |
Market research is a narrow term as it relates to one aspect of marketing
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Marketing research is a wide/broad term as it covers all aspects of marketing |
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Objective |
Market research is undertaken in order to deal with the problems and challenges relating to different aspects of market such as competition, market demand and consumer needs
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Marketing research is undertaken in order to study varied types of marketing problems such as product line, marketing mix, advertising, packaging, branding and so on. |
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