Why Marketers Use Marketing Research

research is observational in nature and a type of correlational research, and is often contrasted with

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.

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

2. List five examples of products that are commonly purchased as either business products or consumer products. How would the classification impact the marketing strategy? 1. Maintenance people are always going to need things repaired. Some people cannot repair things themselves or do not have the time. This will keep job for people and equipment being bought. 2. Materials people are going to always have a need for raw materials. People will need to produce these items keeping the market moving. 3. Clothing people are always in need of clothing through the season changes as well as the fashion trends. 4. Technology such as phones, cameras, mp3 players. These items are always upgrading and getting a new version. 5. Furniture styles are always changing on these items keeping stylist, builders, and manufactures in business.

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.

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.

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

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.

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.

This world has the good and bad to everything, even in marketing. The advantages of marketing research are “agility which helps to change the analysis during the investigation, and the researchers can go their own pace, expenses which are, of course, they can use and control what they want to spend on the research, and customization which is how they want to create the studies” (Acevado, 2017). The disadvantages of marketing research are “resources that are not available in some locations, geographical limitations which makes it hard to get a product to a particular place, and groupthink if the product not exposed to the correct network” (Acevado, 2017). With all this, ethical issues could arise, especially if the disadvantages come up. Per marketing-schools.org, moral issues are “more of a philosophy that informs all marketing efforts. It seeks to promote honesty, fairness, and responsibility in all advertising. Ethics is a difficult subject because everyone has subjective judgments about what is ‘right’ and what is ‘wrong’” (2017). In short, this could be a problem or problems if you lie about the research, you could lose credibility, the study would be considered tampered. For example, say there is a product only sold in Australia, a customer in America wants to buy it. They contact the company asking questions such as if shipping to the states is a possibility. You, the marketer, the seller, lie and say yes when the reality is the opposite. The customer waits months for