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Marketing Research Tools
There are several marketing primary and secondary research tools. Each primary and secondary tool has a specific purpose, advantages, and disadvantages. There are different ways to approach qualitative and quantitative research techniques within the marketing research strategies.
Primary Research
The collection of new marketing research data is referred to as primary research this includes interviews and surveys (Muhmin, 2009). Interviews and surveys can be done in person through e-mail or online. Primary marketing research tools are used to gather new data for a specific reason. Once a specific marketing target area is chosen the primary research techniques will be utilize to collect original data. Once the data has been collected it will be organized and used in the marketing research strategy. Primary marketing research will provide a company with current information used to produce a product or service provided to customers. Primary research is an important tool however can be extremely costly so companies need to determine the cost will be beneficial to the company. Often primary research will be used alongside of secondary research in the marketing strategy plan.
Secondary Research
Secondary research is a collection of research materials and data packages that have been researched by other sources (Muhmin, 2009). This information can be found through the Internet, company webpages, news articles, county and city auditors, and other various sources. With looking for secondary research on energy resources, geographical population, education, economy, crime statistics, or ethnic issues Internet search engines will provide countless resources. Since the Internet searches are free and the majority...
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...ften more costly but when a company needs specific information on the specific item this can be their only choice. Secondary data is data collected from sources that have already conducted and paid for the research. Often this research may not be as specific as needed but the cost benefits may outweigh the need for a more specific research process. Generally the cost for secondary research is only the time it will take to track down and verify research from various sources, for instance the Internet, journals, library resources, or college research papers.
Works Cited
Abdul-Muhmin , A. (2009, April 2). Marketing research. Retrieved from http://opencourseware.kfupm.edu.sa/colleges/cim/mktmgt/mkt345/files2-Lectures_Ch_01_Intro_to_Marketing_Research.ppt
Bull, N. (2010, March 4). Conducting market research. Retrieved from http://ohioline.osu.edu/cd-fact/1252.html
Although this method is limited when answering specific questions, it is key for background research. Using secondary research, one can determine trends, utilize data from past reports and gather opinions on multiple media platforms.
From humble beginnings in 1901 to current day, Harley-Davidson strives to build and provide not only a mode of transportation but also a lifestyle. According to Harley-Davidson (2001-2011), the company mission reads “We ride with our customers and apply this deep connection in every market we serve to create superior value for all of our stakeholders” (Company, para. 2). The company always has not experienced the success they are realizing today and no one knows what challenges tomorrow can bring. Harley-Davidson is committed to providing the best customer service in every department.
Academy Of Management Review, 38(3), 352-376. doi:10.5465/amr.2011.0179 Ferrell, O.C. & Hartline, M. (2011). The 'Secondary'. Marketing Strategy. 5th edition. South-Western/Cengage Learning -.
When conducting research, when is it conducive to use primary research over secondary research and vice versa? Both research techniques are viable and beneficial. They each have purpose and can be used as a marketing research template when conducting research. Both techniques are equipped with tools that can be used to guide a researcher through the research process. If these tools are properly adhered to, the research process can be seamless and quite effective. Moreover, market research can assist a researcher in making accurate decisions and improve the chance of success. This paper will explain the difference among research tools used in primary and secondary research. It will also depict the differences in primary and secondary research when using qualitative and quantitative approaches. Additionally, it will indicate which tools are used for each approach and why.
4) How might these two market research sources help a company develop a marketing mix?
Secondary source of data such as books, journal and articles for the research have been used.
d) Enlarging new customers. Research on the consumer purchase behavior is an essential need. The analysis data will provide more information on who, how, and why to buy, and also understanding the competitors marketing strategic plan. Secondly, by analyzing the majority of subscribers age group, gender, preference items. Sending regular email on current promotion items and offer them with the 1st trial discount voucher to convert the subscribers into customers.
Another strength of secondary research is its low cost(Knowthis.com, 2015). For example, because someone else has already conducted the research they would have been the ones to pay the expense on the equipment whereas the researcher using it now will not have to. Whereas if they were going to do primary research they would have to spend money on travel expenses, equipment, may have to pay participants to take part,
Secondary research is marketing research based on previously gathered data. By using secondary research companies can evaluate a strategy, based on records of market research gathered from the company itself and different sources over a period of time.
We have come to the phase that allows Team A to apply the research tools and implement a market research plan. Team A will review various marketing research tools that are available for researchers to use such as secondary research, secondary on-line research, exploratory research, nondirective interviews, and the Likert scale. Our secondary research is showing that consumers are demanding healthier menu options. This market research implementation plan will develop several market research tools; including questionnaires’ and the Likert scale to verify if McDonald’s consumers genuinely want and will purchase healthier menu items.
Finding out about research that already exists will help form new research. Examples of secondary data. Internet Books / Magazines Newspapers Office statistics The government statistics service The Office of National Statistics. Centre for applied social surveys.
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.
Secondary marketing research or desk research is generally used when a company considering, extending a business into new markets or adding new services or product lines, because it already exist in one form or another.
For this research, I used primary and secondary sources to carry out my report for this information.
On the other hand, weaknesses existed. The primary research was the most difficult and frustrating sector, for it was difficult to keep in touch with the potential competitors; hence, a chance to learn more and analyse deeper from the potential competitors was missed. To conclude, the result and analysis of primary and market research which was based on the questionnaire was not convincing enough, and it was the main sector which needed to improve in the future.