Reflection On Marketing Research And Research Methods

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

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.

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

Marketing research defined is “the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company” (Kotler & Keller, 2009, p. G6). Juice Guys methodology to obtain

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: •

Hyman, M. R., & Sierra, J.J. (2010). Marketing research kit for dummies. Wiley Publishing, Inc.

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

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

Armstrong, G. Brown, L. Burton, S. Deans, K., & Kotler, P. (2010). Marketing (pp. 4-40). New South Wales: Pearson

U n ive rsi ty of Sou the r n Q ueensl a nd, Toowoomba , A ust r a l i a

Given the situation, a determination can be made about its relation to each of the first three steps in the marketing research process. At this point, Joe has already undertaken some actions that are consistent with the defining research objectives step. The first thing that Joe has done is define his situational problem. Although it appears to be lacking in content and clarity, he recognizes “that a great deal of research in

Increasingly multi-national marketers are designing and selling global brands and need research to guide their decision making across an increasingly diverse and disparate world. Sound and timely marketing research becomes even more critical for firms as they compete in the 21st century

When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.

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