The purpose of product research is to develop a product line which meets the needs of consumers in general.
Product research facilitates the process of making products more attractive, useful and agreeable to consumers.
Meaning of Product Research:
Product research is one major area of MR. It is concerned with different aspects of a product which include name, features, uses, package used, brand name given, price, consumer support and so on.
The term product research covers all aspects relating to manufacturing and marketing of a product. Product planning and development, product innovation and modification, product pricing, product life cycle studies branding, labelling, packaging, etc. are the different areas aspects) of product research
Packaging and branding are treated as two components of product research. This is because they are closely connected with the product itself. Moreover, sale depends on the product as well as on its packaging and branding. In product research, existing products of the company are made superior (in quality) and agreeable to consumers.
In addition, new products with promising market demand are developed. This is called new product research. Product research is directly related to product-mix which is one component of basic marketing mix.
There are four components of product mix.
These are:
1. Product range
2. Brand,
3. Package and
4. Service after sale.
Product research has two important aspects.
These are:
a. Technical aspect of a product, and
b. Marketing aspect of a product.
Technical research of a product is conducted in the laboratory in order to develop a product with latest design and features at the lowest possible cost. Products marketing research relates to the attitudes of consumers and their preferences towards the specific product.
Product research is necessary at the product planning stage. This is because marketing will be easy and quick when the produce manufactured is as per the needs and expectations of consumers.
For this, product opportunities must be studied and product must be adjusted accordingly. Marketing efforts will not be rewarded if the product to be sold is not as per the needs and expectations of consumers.
This suggests that marketing research should start at the product promotion stage.
The researcher should suggest the details of product (nature, features, packaging, etc.) which can be marketed effectively. This creates proper background for success in marketing efforts
Product research facilitates the process of making products more attractive, useful and agreeable to consumers.
Meaning of Product Research:
Product research is one major area of MR. It is concerned with different aspects of a product which include name, features, uses, package used, brand name given, price, consumer support and so on.
The term product research covers all aspects relating to manufacturing and marketing of a product. Product planning and development, product innovation and modification, product pricing, product life cycle studies branding, labelling, packaging, etc. are the different areas aspects) of product research
Packaging and branding are treated as two components of product research. This is because they are closely connected with the product itself. Moreover, sale depends on the product as well as on its packaging and branding. In product research, existing products of the company are made superior (in quality) and agreeable to consumers.
In addition, new products with promising market demand are developed. This is called new product research. Product research is directly related to product-mix which is one component of basic marketing mix.
There are four components of product mix.
These are:
1. Product range
2. Brand,
3. Package and
4. Service after sale.
Product research has two important aspects.
These are:
a. Technical aspect of a product, and
b. Marketing aspect of a product.
Technical research of a product is conducted in the laboratory in order to develop a product with latest design and features at the lowest possible cost. Products marketing research relates to the attitudes of consumers and their preferences towards the specific product.
Product research is necessary at the product planning stage. This is because marketing will be easy and quick when the produce manufactured is as per the needs and expectations of consumers.
For this, product opportunities must be studied and product must be adjusted accordingly. Marketing efforts will not be rewarded if the product to be sold is not as per the needs and expectations of consumers.
This suggests that marketing research should start at the product promotion stage.
The researcher should suggest the details of product (nature, features, packaging, etc.) which can be marketed effectively. This creates proper background for success in marketing efforts