How Organizations Use Marketing Research to Contribute to the Development of Their Marketing Plans

Quantitative research is done to find the accurate facts by evaluating the problems like opinion, behaviour by using numerical data. This research is based on theories, hypothesis, collecting, analysing the data to make the research accurate.

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

In this assignment I’m going to describe how the marketing research information is used in order to understand customers, competitors and the market environment in a company like Coca Cola. I’m also going to describe how the link between the principles of marketing are applied within the Coca Cola Company and the marketing research activities used by the same organisation.

Quantitative Research is using numerical data such as how many minutes, degrees, number of etc. Quantitative research is commonly used to research the number of thing for example there have been 5 members, 2 non-members and 10 monthly members attend a fitness class today.

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.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Market research consists of information collection regarding the prevalent market situation, and its analysis. “We define marketing research as the systematic design, collection, analysis, and

Devise and document measures and procedures for measuring the impact of the research information on the marketing decisions

P3-Describe how a selected organisation uses marketing research to contribute to the development of its marketing plans

M1: Explain, with examples, how different market research methods are appropriate to assist different marketing situations. Looking back at the market research methods that could be used to collect information, methods such as questionnaires/ survey, observation, focus groups, experimentation, internet, website monitoring etc. I am going to select 3 primary and 3 secondary methods of research from the ones I have written about. I have chosen 3 primary researches which are: •

3.8 Explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans (M2)

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

Q#1 Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty

Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other

Key concepts of a marketing research problem is first determine management decision problems, and then defining a broad marketing research problem, which in turn should be narrowed down by specific components. These specific components guide researchers to define an approach to the problem, find relevant objective/theoretical framework and choose among