Marketing Research Tools Essay

Secondary market research involves the processing of information that is already collected by previous researchers. For the secondary market research, I will use a research company. They will give me the information of the surrounding hotels of my hotel location. It is then possible to promote my hotel with another, so I’ll be able to compare my hotel with the others to improve. Based on the information of the other hotels are be seen what they can do and what not. This

Qualitative research is flexible written form their results are ongoing and their conclusion can be changed while quantitative research is numerical, reliable, specific, data are collected by statistical analysis due to which quantitative are more accurate. Qualitative research uses open questions to find the depth of the information while quantitative research uses closed question, secondary data or experiments due to this it lacks the depth of the information and neglect the effect of the individuals which could be service provider, service users or other staff members.

According to Yin (2003), there are two types of research approach. This includes quantitative research approach and qualitative research approach. A quantitative research emphasizes on transforming the data to numbers, quantities and statistics to formulate facts and to uncover patterns in a research. It addresses research purposes through empirical analysis that involve numerical measurement, the relationship between variables and analysis approaches (Zikmund et al., 2010). The sample size being investigated is typically large (Anderson, 2006). Quantitative research mainly uses questionnaires, surveys and other equipment to collect numerical or measurable data (Anderson, 2006). On the other hand, a qualitative research typically emphasizes words more than numbers

Prior to conducting primary research, companies should first obtain secondary data from all available sources that pertain to the interests of the subject. Companies conducting secondary market research focus on collating sections of research

For quite a while there has been some discussion around which method of distinctions between Qualitative research and quantitative research. This has been fired in later years with some thinking that a combination of the two is best practice especially in social

It has to be mix of both primary and secondary. Primary research is to be done to know the customer perception about the image of the company and the nature of market competition. Various trade journals, industry reports should also be referred as secondary source.

It is common for researchers to compare qualitative and quantitative research methods. Quantitative methods originate from positivist and post- positivist research paradigms. Also, the methods objectively examine statistical data to determine cause and affect and often use generalizable data. There are various methods used in quantitative research such as surveys,

QUALATATIVE RESEARCH (about attitudes and beleifs), QUANTATIVE RESEARCH (measured in figures that can be measured)

Primary research is where we get information straight from the customers. These could include interviews, questionnaires, analysing purchase records and feedback. Secondary research uses published information such as yellow pages, newspaper reports and articles in trade journals.

Qualitative research uses data obtained through methods such face- to- face interviews, observations, and focus groups. Data is analyzed by looking for trends and patterns. Quantitative research use numerical and statics to process the answer specific questions. Statistics used to support assessment of research. Analysis techniques are used to report are affected by the questions addressed and type of information that is expected in the research discoveries (Wakoff, 2007).

Conducting external secondary research can help support the need for a study when addressing a management problem identified for a marketing research proposal. In this assignment, you will demonstrate your ability to conduct secondary research to inform a proposal for a new product idea.

Primary and secondary sources are ways in which data can be retrieved. As Serakan (2006) stated, “Primary data refer to information obtained by the researcher on the variables of interest for the specific purpose of the study”. Various evidence suggesting to what methods of primary research can be conducted and which are most effective for the previously mentioned problem description are stated in this chapter.

Secondary marketing research is based on information previously gathered by an individual, the government, and other agencies. “Secondary sources are those sources of information that have been collected previously by other individuals or organizations. Secondary sources of information can help you to identify other sources of information, it can help you to get an overall picture of your market or it may provide more detailed information on a specific segment of the market” (Karen Paiyo). There are also various research tools used when conducting secondary research. Secondary research can be acquired from previous reports, public sources, newspapers, magazines, commercials, educational sources, and websites. Secondary research is often easy to find and generally free. It is much more inexpensive than primary research. An example of secondary research is a general manager, of a professional baseball team, gathering a summation of statistical information (of a player whose contract is expiring) from previous

According to Entrepreneur Media (Secondary Market Research, 2012), secondary research consists of “outside information assembled by government agencies, industry and trade associations, labor unions, media sources, chambers of commerce, and so on. It is usually published in pamphlets, newsletters, trade publications, magazines, and newspapers.” For Marketing Team A’s market research, the types of secondary research needed are Starbucks’ demographics, and target markets, plus past studies on the coffee drinking habits of college students.

They can also measure this through sending out a survey to customers who did not accept the organizations quote. Survey questions can include reasons for the quote being rejected, such as cost, quote turnaround time, and delivery lead time. One of the major advantages of primary data is that it can be “more specific to the problem being studied” (Kerin, R.A., Hartley, S.W., Berkowitz, E.N., and Rudelius, W., 2006) and one of the main disadvantages is the cost associated and time associated with collection. So what is the difference between primary and secondary research?