Marketing Management

To be able to do this project you should select a company of your choice and identify the various market research techniques the company has used to gather information of the market.

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

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

What is Market Research? When you collect and identify data (qualitative data and quantiative) about customers, the market and competitors.

Market research helps the organisation to identify the most appropriate marketing mix. The mix should consist of the right

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: •

Sample size is typically small and more open ended. Interviews, in­home ethnographies, and focus groups are used to explore consumer and understand consumer behavior. Skilled administrators are more likely to carry out quantitative research due to its complex and objective nature.

In order to have a successful research it cannot be used only one method. However, a good start would be with the consumer decision process research method. By using the qualitative data technique like interviews, focus groups, secondary data, observations and other means by which data are gathered. This will give answers

Qualitative research is a method if inquiry appropriated in many different academic disciplines, traditionally in the social sciences. In marketing terms, this means investigating the features of a market through in-depth research that explores the background and context for decision making. It’s also used to deeper into issues of interest and explores nuances related to the problem at hand. Examples of qualitative research are focus groups, triads, dyads, interviews, uninterrupted observations and bulletin boards.

Bazeley, P. 2004, Issues in Mixing Qualitative and Quantitative Approaches to Research, Applying qualitative methods to marketing management research. UK: Palgrave Macmillan, pp141-156.

Marketing research can be divided into two types; external continuous data and external ad hoc data. Generally, marketing research helps in many different ways. It gives information on consumer groups, it gives information on price, promotion, product and distribution, it gives information on the

Market research is an indispensable part of any industry because that offers products or services to focused and well targeted. Business decisions that are based on good intelligence and good market research can minimize risk and pay dividends and by making market research part and parcel of the business process and conducting market research throughout the lifecycle of a product or service. It is the best way and to elevate business performance .market research will bring the following benefits:-

The two main types of marketing or business research are qualitative and quantitative research, these research methods vary based on the information gathered and how it ends up being gathered by researchers. Qualitative research is gathered using focus groups, in-depth interviews, as well as reviews of documents searching for themes and commonalities. The method for developing theory and hypothesis is based on inductive reasoning or logic after analyzing the information collected. The problems described are done from a subjective standpoint which is talking about problems from a point of view from a specific aspect of the company, narrowed down to a problem from one department to another’s concerns. The information gathered is on less of an amount of situations but the data collected is much more in depth. Quantitative research utilized the likes of surveys, structured interviews and observations, reviews of records and documents for measurement analysis of the subject matter. Testing is done in controlled situations for previously deciphered concepts and hypotheses that help to build a specific theory. The research conducted for quantitative methods is much more objective, it’s a larger opinion and the information is concentrated on much more broad terms and information to let the reader form their own opinions based on facts presented.

(Lichtman, M. 2006) It is true that most of the management in the business world go for mixed methodologies in order to attain comprehensive and accurate findings of the research. Having said that there are pros and cons of both the methods that are taken into account by the management in order to achieve set goals and overcome hindrances in the business. Qualitative method of research is a speedy process that provides fresh and inventive results with in- depth analysis of the matter of research. Statistical data may enlighten on the percentile of people switching over to other brand but it is only through interaction with the customer base that the reason behind the switch over can be found. Since qualitative method of research requires fewer participants, the findings can be achieved in lesser time as compared to quantitative method. A firsthand experience is an added advantage of this method since it allows the research to observe and then ask relevant question, which in turn saves time. While it is easy to highlight the pros of qualitative method, looking for advantages of quantitative method of analysis is no difficult. Since the advent of modern and sophisticated tools of statistical analysis, tremendous growth in the field of finance and econometrics has been witnessed. One vital distinction of the two is description versus measurements whereby quantitative exploration is commanded by extensive scale empirical surveys while qualitative

The observation method is a research technique in which the actions of people are observed and recorded. This method is used frequently used to get information about employee performance or customer behavior when purchasing a