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Research is systematic gathering of information. Marketing research is a systematic inquiry undertaken to help resolve a specific marketing problem. Its purpose is to guide marketing decisions by generating information. It provides alternatives for making the choice. It is a tool for identifying market opportunities to formulate market strategy and to minimize threats. It is problem-oriented.

Features of marketing research are:
a) Systematic: Marketing research is a systematic step-by-step process. It is properly planned and implemented.

b) Objective: Marketing research is unbiased. It is objective in collecting, analyzing, interpreting and reporting data.

c) Problem-oriented: Marketing research deals with specific marketing problems.

d) Decision Making: Marketing research helps make timely marketing decisions.

Most large organization have their own marketing research department. Small organizations can buy the services of outside marketing research firms. Organizations generally budget 1 to 2 percent of sales for research. The areas for marketing research are various in type.