Companies use marketing research to identify problems or opportunities that they might encounter. Organizations may also use marketing research to identify their strengths and weaknesses, and certain trends that are forming in their market. H&R Block is a tax service company that prepares state and federal taxes for individual customers and small to mid-size companies (H&R Block, 2010). This company has defined their marketing research and has different types of marketing research techniques it uses. Furthermore, there are other types of H&R Block’s marketing research techniques that would be beneficial to if they were implemented correctly.
Definition of Marketing Research
Marketing research can be defined as the “planning, collection, and analysis of data relevant to marketing decision making and the communication of the results of this analysis to management” (McDaniel & Gates, 2006, p. 7). H&R Block uses marketing research to find how well their customers enjoy their services and how they can acquire more clients. They use marketing research to find out how much their competitors are saving their clients from their tax returns and then compare the statistics. H&R Block then presents that data to future clients by promoting through television advertisements and local, face-to-face interaction, specifically during tax season. H&R Block has conducted marketing research in the South Austin, Texas area and found that a large demographic is Hispanic. The company later developed marketing campaigns that would cater to a new Spanish speaking cliental.
There are three functioning roles that marketing research has: descriptive, diagnostic, and predictive (McDaniel & Gates, p. 7, 2006). ...
... middle of paper ...
...are forming in their market. H&R Block is a tax service company that prepares state and federal taxes for individual customers and small to mid-size companies (H&R Block, 2010). This company has defined their marketing research and has different types of marketing research techniques it uses. Furthermore, there are other types of H&R Block’s marketing research techniques that would be beneficial to if they were implemented correctly.
Current Issues in Marketing Strategy. (2011). Retrieved from http://www.ciims.net/2008/07/h-block-positioning-around-july.html
H&R Block. (2010). Secure Your Place with the Industry Leader. Retrieved from http://www.hrblock.com/company/tax_franchise/resources/hrb_brochure.pdf
McDaniel, C., & Gates, R. (2006). Marketing Research (7th ed.). Retrieved from The University of Phoenix eBook Collection database.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The Impact of the Internet on Marketing Research Probably the most important impact of the internet on marketing research is that it has taken it from the realm of academic studies, with set subject pools and relatively rigid experimental conditions, into the realm of real life, with people interacting with one another on the level of regular day-to-day interactions. While it is obviously possible to still apply controlled, scripted situations to marketing research, the more effective way is to find methods of collecting and evaluating data gathered in the more natural environment of virtual interactions.... [tags: Marketing, Advertising, Marketing research]
1218 words (3.5 pages)
- Marketing research is the process of defining a marketing problem and opportunities, systematically collecting and analyzing information, and recommending actions (Kerin, Hartley & Berkowitz, 2009). Marketing research helps assess market potential, gives insight to into customer motivation, purchase behavior and consumer satisfaction. The purpose of marketing research is to gather, analyze, and interpret data related to the company’s market, competitors, marketing objectives, and customer demands.... [tags: Marketing, Research, Marketing research]
710 words (2 pages)
- 7 Easy Steps to Conducting Your Marketing Research Plan. Marketing research is a process used by businesses to collect, analyze, and interpret information used to make sound business decisions and successfully manage the business. In other words, it links the consumer to the marketer by providing information that can be used in making marketing decisions (i.e. B2C or B2B). This can not be implemented without the use of a MIS (Marketing Research System) to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.... [tags: Marketing, Decision making, Marketing research]
900 words (2.6 pages)
- The majority of firms that have engaged in the marketing concept are also partaking in some marketing research because of the benefits it brings to a company. Large corporations spend millions of dollars on marketing research, while the smaller companies. There are seven steps that are apart of marketing research process. Marketing research is the “planning, collecting and analyzing data that happens to be relevant to any type of marketing decision” (Lamb, 158). The main purpose for marketers to use the marketing research process is to improve the decision making process, and to improve customer service.... [tags: Sampling, Marketing, Marketing research]
1662 words (4.7 pages)
- Total error in marketing research is the deviation between the true value and the observed value in the project. Numerous errors can affect the quality and credibility of the research findings. Two main types of errors have been identified: Random sampling errors and Non-random sampling errors. The first derives from how well the sample selected represent the population being studied while the latter represents all types of error that may occur from sources other than sampling. Since non-sampling error is very broad it has been divided into response errors and non-response errors.... [tags: marketing research, Malhotra, Briks & Wills]
1646 words (4.7 pages)
- Marketing research provides organizations with information to aid in decision making and marketing strategies (Peter & Donnelly, 2015, p. 32). Marketing research can test consumer reactions to a new product ideas and services and tell you how your product ranks among competitors, to name a few examples. Marketing research methods can be categorized as primary/secondary data research, quantitative research such as surveys, observations, experimental and mathematical models, or qualitative research such as focus groups and interviews.... [tags: Marketing, Marketing research, Research]
1191 words (3.4 pages)
- Marketing Research Methods A small business owner has undoubtedly done countless hours of research and put forth great effort in starting up and maintaining their company. Unfortunately, these same business owners may not have focused enough energy towards researching the market and target segments to assure that there is an actual preexisting need and desire for the offering. This paper will compare and contrast three marketing research methods that can be used by small businesses to better understand the sales potential of their marketplace.... [tags: Marketing, Small business, Marketing research]
976 words (2.8 pages)
- Introduction Creating a strong path of action, that includes all steps necessary for research to be insightful and applicable, takes a lot of planning and consideration. The research case discussed in this paper will expound on steps necessary for a fictitious company, Advanced Automobile Concepts, to increase sales. Advanced Automobile Concepts, Zen Motors, needs a research plan showing each step along the research path. The report will start with the marketing research problem, 8 steps including objectives, design and data collecting, and concluding with how the report should be presented.... [tags: Marketing, Research, Exploratory research]
1332 words (3.8 pages)
- Safaricom is the leading telecommunications company operating in Kenya. It provides a host of products and services for telephony, GPRS, 3G, EDGE and data and fax. It has been faced with a number of problems with time, one of which is the entry of many other telecommunication companies into the market over the years. The companies include, Telkom Orange, Yu and Zain. So far the main rival is Zain. The problem caused by the entry of other companies is that they bring about unwanted competition (decrease in market share).... [tags: Business Marketing Research]
756 words (2.2 pages)
- The marketing strategy planning process involves careful evaluation of the market opportunities available before narrowing down to focus on the most attractive target market and marketing mix (review Exhibit 2-10). As the HP case illustrates, a manager who develops an understanding of the needs and characteristics of specific groups of target customers within the broader market may see new, breakthrough opportunities. But it’s not always obvious how to identify the real needs of a target market—or the marketing mix that those customers will see as different from, and better than, what is available from a competitor.... [tags: Marketing Research Paper]
1014 words (2.9 pages)