Monday, December 2, 2019

Research Process free essay sample

Marketing Research Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. † [Philip Kotler] â€Å"the systematic gathering, recording and analyzing of all data about problems relating to the marketing of goods and services. † [The American Marketing Association] Basic purpose of marketing research Marketing research reduces uncertainty or error in decision-making.The information collected by conducting marketing research is used for problem solving and decision making in various areas of marketing. The marketing research process Effective marketing research involves five steps shown in Figure: [pic] Step 1: Define the Problem and Research Objectives Not all research projects can be this specific, some research is: Step 2: Develop the Research Plan The second stage of marketing research calls for developing the most efficient plan for gathering the needed information Data Sources. The researcher can gather secondary data, primary data, or both. Secondary data are data that were collected for another purpose and already exist somewhere. We will write a custom essay sample on Research Process or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page †¢ Primary data are data gathered for a specific purpose or for a specific research project. Research Approaches Research Instruments Questionnaires: A questionnaire consists of a set of questions presented to respondents for their answers. Because of its flexibility, the questionnaire is by far the most common instrument used to collect primary data. Mechanical Instruments: Mechanical devices are occasionally used in marketing research.Sampling Plan After deciding on the research approach and instruments, the marketing researcher must design a sampling plan. This plan calls for three decisions: Step 3: Collect the Information Following are the characteristics of good marketing research 1. Scientific method 2. Research creativity 3. Multiple methods 4. Interdependence of models and data 5. Value and cost of information. 6. Healthy scepticism 7. Ethical marketing

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