Marketing Research Tools

Marketing Research Tools

Strategic and tactical decisions need to be made when an organization needs to achieve the objectives of the research. Market research is a strategic step in determining the best solution for discovering opportunities and acquiring clients. This is the first critical step in the marketing department that creates a foundation for what a company needs to research to identify what opportunities are given and what steps need to be taken to achieve the goals. The process provides information for managers and necessary tools for the marketing mix, which can help with customer satisfaction and retention. 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.

Primary and Secondary Research Tools

Primary research is based on searching for solutions that are based on information collected specifically for the problem or issue (Burns, 2006). Secondary research is a faster process and less expensive to conduct because it is based on information that is already collected. There are different tools used in primary research....

... middle of paper ...

...ided or conduct additional data that is needed. In this case qualitative and quantitative approaches can help ensure that the hypothesis is tested properly. This can help managers to base their data results, define their target market, and help with the distribution function. As more information is disclosed, the risk level can decrease because the facts are considered into the decision-making process. This helps the management with making strategic decisions that positively could influence the outlook of the company.

Works Cited

Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing research (9th ed.). Hoboken, NJ: John Wiley & Sons.

Burns, A. C., Bush, R. F. (2006). Marketing research: Online research applications (5th ed.). Upper Saddle River, NJ: Prentice Hall.

McDaniel, C. & Gates, R. (2006). Marketing research (7th ed.). Hoboken, NJ: John Wiley & Sons.