Why Marketers Use Marketing Research

According to Depoy and Gittin, research is a way individuals think about problems in systematic way. Research is generally described as description, exploration, analysis, prediction and problem solving. There are different types of research and these researches are called the experiments, quasi-experiments and non-experiments. The purpose of research is to provide the insight to practice, it also enhance individuals understanding as well as developing new approaches with different topics, get to test your research for effectiveness. Understanding research is important because it helps to build individuals knowledge bases and informs decision making in practice. Research also enable us to make sure that our practice are up to date with relevant information.

Experimental research concentrates on how and why something happens. It is the evaluation of how an independent variable (a manipulated factor) affects a dependent variable (an observed factor). The outcome can be affected by a number of elements; obtaining random and representative samples of the study population, experimenter bias and extraneous variables.

Secondary information is data which is derived from primary information and can be found via books, newspapers, internet etc. Secondary information is less reliable than Primary information because you cannot be certain as to how precise it is.

The first type of research that is used in the field of sociology is experiment research. Experiment research involves creating an experiment based off an hypothesis to answer an question. The scientific method is used to keep the experiment on track and follow a set of guidelines. This experiment is done in a controlled setting in which the design of the experiment is to answer the hypothesis. Data is gathered based on what the participants do or act during the experiment. The data gathered is quantitative, in which the data gathered is expressed in numbers. There are both benefits and limitations of

A case study is defined as a full, detailed picture of a participant or a small group of other participants. While a correlational study can suggest that both variables have a relationship that exists. An experiment is where the experimenter’s hypothesis is tested to see whether it works. Typically, the experimenter has an independent variable (the cause) where they can manipulate the variable and as well as the dependent variable (the effect).

Absolute advantage is the ability to produce more than one product efficiently and at the lowest cost. Comparative advantage is the ability to specialize in producing one product at the lowest cost. Comparative advantage affects trade the most because with specializing in producing one product the companies must trade to receive other products. Comparative advantage also considers the opportunity of cost to produce one product verse the other.

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

It is possible to further classify reference groups into four types, depending on the function they perform and the kind of influence they exert reference groups operate by establishing certain norms, roles and status within the group for members to follow. As explained earlier, norms are unwritten codes or, standards of conduct that are assigned to individuals within the group. In addition, specific roles have been identified in group purchasing behavior in the attempt to select the best among alternative brands or makes of a product. These are described as those of the influencer, the gatekeeper (i.e. the individual who has the maximum control over the flow of information), the decision maker, the purchaser and, the final user. Status positions have also been designated within a group. High status of members within a group implies greater power and influence. Products are sometimes purchased to demonstrate status, for example an elegant dress or, an expensive car. The influence exerted by the group depends on the type of reference group it is. There are four general types of groups namely, normative, comparative, status and dissociative groups.

Gather information about its potential and current customers, this helps to understand the customer, improve their services and make more informed decisions hence reducing risk.

1. Review the marketing definition of product. Why do you think marketers define product so broadly? How does the definition of product affect quality? I looked at the definition of product and it is very short and boring. I think it is defined this way because so many people have their own meaning of the term and how it works. I think it affects the quality a great deal. If the definition is not intriguing to viewers and customers it does not draw people in.

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: •

Further, through the literature search, the organization will be able to establish the income levels of the American minority groups. This will help the organization to establish if there is any hypothesis related to the failure of investment due to income levels (Bhojraj, Lee, & Oler, 2003). In other words, this may help further to carry out a causal-effect research to establish if there is any relationship between the income level and the investment levels among the American minority groups.

Observational research is type of correlational (i.e., nonexperimental) research in which a researcher observes ongoing behavior. There are a variety of types of observational research, each of which has both strengths and weaknesses. These types are organized below by the extent to which an experimenter intrudes upon or controls the environment.

Compatibility is the ability for software to work with each other or other devices, such as different versions of software that work with a particular desktop computer (Mastrian &McGonigle, 2017). An advantage of compatibility would be decreasing the risk of error in data entry, since one would be able to minimize the amount of data entry. For example, if a laboratory uses a software system that is compatible with a health information systems, once the result is documented in the lab system, it would be shared and with the HIS and stored in one location. A disadvantage to compatibility is keeping up to date with all current versions of the same software. This can be costly & could result in issue with performance if different versions are running together.

According to Benner & Shaké (2008) research is a systematic examination that explores hypotheses, suggests new considerations of data and poses new questions for future research to explore. Research methods are techniques used to construction a study or idea. It is undertaken by collecting and analysing data significant to the research in question. For the propose of this assignment, I will be analysing a research method known as empirical research. According to Polit & Beck (2008), empirical research method can be defined as a way of acquiring information by means of direct and indirect observation or experience. Through direct empirical evidence the observation or experience can then be analysed either qualitatively or quantitatively and