Essay about Marketing Research

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Importance of Marketing Research
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
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After the information is gathered, then the diagnostic function can take place by explaining what the data or actions mean. The last role of marketing research is the predictive function. During this function, companies try to foreshadow the best opportunities as the market changes (McDaniel & Gates, p. 7, 2006).
Types of Marketing Research Used
H&R Block defines their marketing research in the South Austin, Texas district as identifying a demographic that could have potential customer retention. H&R Block promoted their tax services to Hispanics in the South Austin region by presenting face-to-face advertisements in front of widely used grocery stores called HEB and Fiesta. They researched where the greatest opportunity was for them to acquire new clients. In this case, the demographic was lower income Hispanic families in South Austin, Texas. They chose to present their services in front of HEB and Fiesta stores because they found that lower income families shop there very frequently. The company conducted surveys to potential clients about what they have received from their tax returns in the past in exchange for discounts, appointment setups, and knowledge of how much money they were able to get from the government for their past clients’ tax returns.
Another marketing research technique that H&R Block utilizes is their social media campaigns. According to Current Issues in Marketing Strategy (2011), “H&R block implemented a very

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