Many companies conduct market research to gain knowledge and understanding about current customer behavior and culture, competitors, and market trends. There are different techniques that companies can use to obtain valuable research, and each technique has its own unique application. There are many research tools that are used by companies to gather primary and secondary research for marketing decisions. Primary and secondary research techniques have different characteristics and achieve different objectives, and are used when applying qualitative and quantitative approaches. Furthermore, certain research tools are used for these approaches for various reasons.
Primary and Secondary Research Tools
When a company conducts primary research, the information that is gathered is new and original, and is generally undertaken by researchers that that have collected secondary data. A popular market researching tool is a survey through personal interviews (Aaker, Kumar, & Day, p. 271, 2007). This form of primary research involves a researcher, interviewer, interviewee, and the interview environment. These interviews could be conducted face-to-face or via online. Door-to-door interviews are also very effective ways to gather information because of quick feedback from the respondent, special questionnaires, and it allows the participants to feel comfortable in their own environment.
Another primary research tool is the use of mall intercept surveys (Aaker, Kumar, & Day, p. 247, 2007). These surveys are often conducted in shopping malls and are somewhat inexpensive. Mall intercept surveys allow companies to save money on their research efforts because researchers do not have to travel to find shoppers for interviews. Spe...
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...uable information are primary and secondary data. The tools that are used for conducting primary and secondary research provide companies with quantitative and qualitative types of data. There are many research tools that are used by companies to gather primary and secondary research for marketing decisions. Primary and secondary research techniques have different characteristics and achieve different objectives, and are used when applying qualitative and quantitative approaches. Furthermore, certain research tools are used for these approaches for various reasons.
Works Cited
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The methodology of this research project included both qualitative methods and quantitative methods. The qualitative methods were used for primarily background information and specific examples of respondents that would be considered part of the target market. The quantitative methods included a distributed survey and a collection and analysis of the results using statistical software.
Burns, A. C., Bush, R. F. (2006). Marketing research: Online research applications (5th ed.). Upper Saddle River, NJ: Prentice Hall.
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Kotler, Philip, and Kevin Lane Keller. Marketing Management 12e. Upper Saddle River: Pearson Prentice Hall, 2006.
Companies use marketing research to identify problems or opportunities that they might encounter. Organizations may also use marketing research to identify their strengths and weaknesses, and certain trends that are forming in their market. H&R Block is a tax service company that prepares state and federal taxes for individual customers and small to mid-size companies (H&R Block, 2010). This company has defined their marketing research and has different types of marketing research techniques it uses. Furthermore, there are other types of H&R Block’s marketing research techniques that would be beneficial to if they were implemented correctly.
Primary marketing research is tailored to a company's particular needs. It is conducted by an individual or by an outsourced research firm. It gathers information directly from the source. “Primary sources of information is information you gather direct from the source. This information is more time consuming to gather but it does ensure that you have information that is directly relevant and timely” (Karen Paiyo). There are various research tools used when conducting primary research. These tools include interviews, focus groups, surveys, and observation. Each can be extremely effective. Interviews (one-on-one conversations with prospective purchasers) are excellent for testing of research hypotheses. They give tremendous insight regarding a product or service. Focus groups (groups meeting consisting of a ...
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
Kotler, P., & Keller, K. (2012). Marketing management (14th ed., Global ed.). Boston, [Mass.: Pearson.
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.
The Marriott Company is a successful lodging and hospitality company. It is a company that is internationally recognized and has nearly 3,700 properties, 18 brands in 72 countries and territories worldwide (Marriott, 2012). With such success and worldwide prominence, it is no mistake that it operates with a winning formula that includes market research. "Our relentless focus on innovation and action fuel the way we do business" (Marriott, 2012). Organizations, like Marriott, not only have to compete in a rapidly changing technological environment and a highly diverse global environment, it must consider the importance and role that marketing research plays. Operating in such a competitive industry, the Marriott Company has realized that to be successful and survive for the long term, it incorporates market research in its business practices. This paper will define market research; identify the types, and the importance of marketing research that the Marriott Company uses.
Grover, R & Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future
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.