Last Updated 06 Jul 2020

Marketing Research – Short Outline

Essay type Research
Words 267 (1 page)
Views 133

MARKETING RESEARCH General information Definition: “ Systematic and objective collection and analysis of information for the purpose of decision making in marketing “ Key functions: Studies consumer behaviour Helps identify marketing opportunities & problems Helps evaluate company’s marketing performance Helps select/ improve marketing strategy Marketing Research ? Market Research Provides data on Provides data on company's environment company’s own roducts/services/current customers The Marketing Research Process 1. Problem definition 1. 1 Formulating decision problem (e. g. how to price new product) 1. 2 Determining purpose ; scope of research 2. Research Design Exploratory research: understanding the nature of a problem Conclusive research: answering research questions 2. 1 Choosing Types of data - Facts - Opinions - Motivations 2. 2 Locating Sources of data - Secondary data (previously published) Primary data (obtained directly from the consumer) 2. 3 Methods of Collecting Data from primary sources Observation: Analysing customer? s behaviour Self-reporting Focus group: take part in a discussion to analyse people`s reaction to special topics Projective technique: respondents are asked to say the first word that comes into their minds upon a specific topic Questionnaire: - Mail - Online - Telephone -Personal 2. 3 Selecting the Sample

Haven’t found the relevant content? Hire a subject expert to help you with Marketing Research – Short Outline

Hire verified expert

Sample: Group of elements (persons, stores, financial reports) chosen from among a total population Probability sample: Each unit has a known chance of being selected Nonprobability Sample: Sampling units are selected arbitrarily 2. 4 Anticipating the Results = Making a plan about how the marketing research and the final report will be designed 3. Research Conduction = Implementing the research plan 4. Data Processing = Transforming the information obtained into a report for management

Haven’t found the relevant content? Hire a subject expert to help you with Marketing Research – Short Outline

Hire verified expert

Cite this page

Marketing Research – Short Outline. (2017, Feb 03). Retrieved from https://phdessay.com/marketing-research-short-outline/

Not Finding What You Need?

Search for essay samples now

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire verified expert