Marketing Research Tools

Market Research Tools

An organizational problem must be identified prior to beginning the market research process. In most cases, a problem is a research opportunity for product improvement or the launch of a new product. The first critical step of the marketing process involves how the research problem is defined by specifying the research objectives; identifying the consumer population of interest, and placing the problem in an environmental context. The very next step is to determine the research design that involves whether or not primary or secondary data is available or required. Marketers must collect the information and determine the type of study required before they can move on .

Primary Data

Primary data is research gathered to help make specific decisions about a present problem. “Primary data include demographic and psychological information about customers and prospective customers, customers’ attitudes and opinions about products and competing products, as well as their awareness or knowledge about a product and their beliefs about the people who use those products”. (Judge, 1998) The various designs in conducting primary research are exploratory, descriptive, and casual research.

Exploratory research is an in-depth investigation with few typical profile consumers used to generate topics for the future. Exploratory research takes on many forms without the burden of high cost. Marketers have this option to allow them to explore research within the primary umbrella without taking a sizable risk. On the other hand marketers may not feel confident in generalization to the consumer population. Most exploratory research is qualitative since the research is non-numeric and consumer behaviors are in the form of wor...

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...ernal sources from previous record reports provide history patterns for all target consumers.

The marketer’s research task is to determine the plan of action by asking questions stimulated from the research problem. Investigate research design methods that will help answer the problem questions in an effective way. The research process is to continue to investigate further, by interpreting the data and discovering if the answers solve the organizations problem. Note that it is to the companied advantage to use secondary research if possible. If not, use primary research to provide the organization with the necessary information.

Works Cited

Roberts, Donna (2011) Qualitative vs. Quantitative Data http://regentsprep.org/REgents/math/ALGEBRA/AD1/qualquant.htm

Judge, Paul. (1998) “Do You Know Who Your Most Profitable Customers Are?” www.businessweek.com