Market need is uncertainly, to meet customer expectation, company have to learn what their want and provide it on time. Marketing research therefore can be called that is one of the factor that force company’s ability to supply expected goods or service to market by mean of learning about consumers and respond their need. (Trim et al 2006, pp205-206) Good research should be objective and provide precise information for companies because that influences to manager whose make decision and develops business plan or strategy from that data. Moreover, Trim et al(2006, p209) argue that ‘marketing strategists need to be able to use the findings of qualitative marketing research in order to influence board level thinking and actions.’ that necessary for manager to ta... ... middle of paper ... ...y want company to improve quality of similar product that company already got. This comment might come on extra comment in questionnaire that researchers give to respondents.
This paper will discuss and differentiate among the various tools used in primary and secondary research as well as discuss the differences when using qualitative and quantitative approaches. This paper will further identify which tools are used for each approach and why. The primary purpose of marketing research tools is to assist companies in decision-making. Therefore, the view and understanding of marketing research, its tools, and its methods are adapted in business decisions. Primary and Secondary Research Effective marketing is applying the right research tools at the right time for successful decision making.
It is important for proactive management because it helps develop marketing options through market segmentation, consumer attitude, product usage studies, and market opportunity analysis (McDaniel & Gates, 2006). There are several challenges when conducting marketing research. This includes making sure there is enough survey participation and completion rates, reaching a proper amount of sample of respondents, giving enough surveys that respondents desire, designing the survey, analyzing results, and coding the survey operations. Primary and secondary researches are necessary when conducting successful marketing research. Both qualitative and quantitative approaches can be used to discover insights of what the customers need and how to market to them.
Marketing Research Tools Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool. A wide-range of marketing research tools is available to market researchers and organizational decision makers. The following focuses specifically on data collection methods for conducting both primary and secondary research and provides an examination of the differences in primary and secondary research when using qualitative and quantitative approaches.
In today's increasingly competitive markets, there is a growing realization that success in the future will only come from meticulous planning and market preparation. Therefore having a marketing plan is useful as it is better to weigh up the costs of planning against the costs of not planning.
. Marketers mainly embark on marketing research in order to understand how and why things happen. Research is defined as a careful study or undertaking that is done to find or generate new knowledge about a phenomenon (Merriam-Webster Dictionary). Research is conducted using a methodology which is simply the paradigm, methods, tools, strategies and analysis used to gather data and analyze about the phenomenon as depicted in figure 1 (Oates, 2009). Figure 1 Research methodology adapted from Oates (2009) Methodologies are based on a set of paradigms, which are a set of beliefs that the research subscribes to.
The objectives of this essay are to discuss key elements of qualitative and quantitative research designs, including the distinction between them. The distinction between these two research designs will also be compared with scientific and non-scientific approaches. Empirical examples illustrating the usefulness of the two designs are also given. This essay will focus on the key characteristics on aspects of data being used and its collection techniques, how it’s used and analysed as discussed by Popper (1989), Ragin (2000), Flyvbjerg (20010, Janesick (2000), De Vaus (2001), Denzin (2000) and Greenstein, Roberts and Sitas (2003). Discussion Although the key elements of these two types of research design are essentially identical, there are some notable differences in terms of how data is collected and analysed.
(Aaker, Kumar, & Day, 2001). Overall, market research provides a planned approach to achieving company goals and objectives. Understanding the differences in primary and secondary research when using qualitative and quantitative approaches will help any organization gain a better perspective of the various ways market research can be applied to meet company goals. Secondary Research It is important to assess the current situation prior to jumping straight into market research because it can be both timely and costly. The first step in market research is to use a cost-benefit analysis and decide if the cost of the research is worth more than the value of the data retrieved.
Marketing can be seen as an effective way to communicate the value and purposes of a product or service to customers and consumers; for the primary purpose of selling that product or service. However, there are many different types of strategies that dissipates uniquely into different the ranges of the marketing spectrum. The purpose of this research paper is to define marketing strategy, briefly understand how to create a marketing strategy, and analyzing the different types of marketing strategies at various business levels. Marketing strategy is defined as the results of a thorough market analysis, which combines all of a firm’s or company’s goals into one comprehensive plan. An effective marketing strategy must be drawn from the fundamental research of the markets it resides in; focusing on the correct product mix in order to fully potentially profit at the highest possibility.
Quantitative research uses, "structured questions in which the response... ... middle of paper ... ... when going through the marketing research process. The different styles and methods of marketing research need to be examined carefully and take time, cost, and value of information, into consideration. Secondary research should always be sought first to either answer the project questions with less expense or to help narrow the focus and effectiveness of primary research. Quantitative and qualitative methods of research should be considered when selecting tools with primary and secondary information. Each tools purpose is unique and may require a mix of many tools to complete the marketing research project.