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Marketing Research Tools
There are several marketing primary and secondary research tools. Each primary and secondary tool has a specific purpose, advantages, and disadvantages. There are different ways to approach qualitative and quantitative research techniques within the marketing research strategies.
Primary Research
The collection of new marketing research data is referred to as primary research this includes interviews and surveys (Muhmin, 2009). Interviews and surveys can be done in person through e-mail or online. Primary marketing research tools are used to gather new data for a specific reason. Once a specific marketing target area is chosen the primary research techniques will be utilize to collect original data. Once the data has been collected it will be organized and used in the marketing research strategy. Primary marketing research will provide a company with current information used to produce a product or service provided to customers. Primary research is an important tool however can be extremely costly so companies need to determine the cost will be beneficial to the company. Often primary research will be used alongside of secondary research in the marketing strategy plan.
Secondary Research
Secondary research is a collection of research materials and data packages that have been researched by other sources (Muhmin, 2009). This information can be found through the Internet, company webpages, news articles, county and city auditors, and other various sources. With looking for secondary research on energy resources, geographical population, education, economy, crime statistics, or ethnic issues Internet search engines will provide countless resources. Since the Internet searches are free and the majority...
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...ften more costly but when a company needs specific information on the specific item this can be their only choice. Secondary data is data collected from sources that have already conducted and paid for the research. Often this research may not be as specific as needed but the cost benefits may outweigh the need for a more specific research process. Generally the cost for secondary research is only the time it will take to track down and verify research from various sources, for instance the Internet, journals, library resources, or college research papers.
Works Cited
Abdul-Muhmin , A. (2009, April 2). Marketing research. Retrieved from http://opencourseware.kfupm.edu.sa/colleges/cim/mktmgt/mkt345/files2-Lectures_Ch_01_Intro_to_Marketing_Research.ppt
Bull, N. (2010, March 4). Conducting market research. Retrieved from http://ohioline.osu.edu/cd-fact/1252.html
Aaker, D. A., Kumar, V., & Day, G. (2007). The Marketing Research Process. Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary2/content/eReader.aspx.
There are three functioning roles that marketing research has: descriptive, diagnostic, and predictive (McDaniel & Gates, p. 7, 2006). ...
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 differences in primary and secondary research when using qualitative and quantitative approaches. Additionally, it will indicate which tools are used for each approach and why.
Another strength of secondary research is its low cost(Knowthis.com, 2015). For example, because someone else has already conducted the research they would have been the ones to pay the expense on the equipment whereas the researcher using it now will not have to. Whereas if they were going to do primary research they would have to spend money on travel expenses, equipment, may have to pay participants to take part,
...sney can use secondary market research to complete the research process. Defining secondary market research shows how such research can effectively supplement primary market research. Disney will use secondary research such as a census of languages in Rio de Janeiro, to help verify whether Disney can benefit the local economy of Rio as well as a study of popular languages in the area, to determine if bilingual staff is necessary. The selected tools will help Disney Brazil become another successful Disney resort.
4) How might these two market research sources help a company develop a marketing mix?
Polaris Marketing Research (2008). Marketing Research Process: An Overview. Retrieved May 8, 2008, from http://www.polarismr.com/edctr_overview.html
As part of my marketing mix I plan to use market research for aspects such as pricing, promotion, and distribution.
This will include primary as well as secondary research. The primary research would include a survey that would be conducted in selected localities of Delhi and nearby areas where the responses of consumers would be recorded through a designed questionnaire. Secondary research would include various aspects of brand management through internet, journals, company reports, expert views etc.
“Primary data are gathered specifically for the research project at hand. Secondary data is data that have been previously gathered for some other purpose.” (Burns & Bush, 2006). This paper will explore the differences in primary and secondary research when using qualitative and quantitative approaches. The paper will further discuss the tools that are used for each approach.
We have come to the phase that allows Team A to apply the research tools and implement a market research plan. Team A will review various marketing research tools that are available for researchers to use such as secondary research, secondary on-line research, exploratory research, nondirective interviews, and the Likert scale. Our secondary research is showing that consumers are demanding healthier menu options. This market research implementation plan will develop several market research tools; including questionnaires’ and the Likert scale to verify if McDonald’s consumers genuinely want and will purchase healthier menu items.
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.
Secondary research is a method of extracting information from other people’s studies, which have been done prior to the current process of a person’s research. The sources can be taken from books, journals, websites, reports, etc. The information taken must be analyzed and interpreted properly in order to associate the ideas and utilize the data to support the current research’s objectives and purposes. It can be used as a comparison and indicates inadequacy and gaps in conducting the current research.
Primary marketing research is collected for the first time if the company has enough money to finance it, but in most case it is the second more accurate one. It is original and collected for a specific purpose, or to solve a specific problem. Primary research delivers more specific results than secondary research, more expensive and time consuming, which are an especially important consideration when the company is launching a new product or service. There are many ways to conduct primary research. By customizing tried-and-true approaches, focus groups, surveys, field tests, interviews or observation, you can gain information about your target market. Primary research is generally based on sampling techniques and requires statistical methodologies. The sample size could be as small as 1 percent of the market and thus the information and results gathered are highly accurate.
On the other hand, weaknesses existed. The primary research was the most difficult and frustrating sector, for it was difficult to keep in touch with the potential competitors; hence, a chance to learn more and analyse deeper from the potential competitors was missed. To conclude, the result and analysis of primary and market research which was based on the questionnaire was not convincing enough, and it was the main sector which needed to improve in the future.