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'Define the stages of marketing research proccess and consider why Marketing Research is such an essential tool for the Marketing Manager''

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Introduction

''Define the stages of marketing research proccess and consider why Marketing Research is such an essential tool for the Marketing Manager'' All organisational activities take place in an environment of risk. 'Risks cannot be eliminated completely since they are inheritent in a dynamic market'. (J Blythe, (1998) Essentials of marketing, prentice hall) To reduce this risk, Market Research provides an invaluable source of information to help organisations make decisions and develop strategies for products which will increase the probability of success. It is also defined as 'The collection, collation and analysis of data relating to the marketing and consumption of goods and services' (Dibb et al, (2001) Marketing Concepts & Strategies, Houghton Mifflin Co) 'It is not undertaken for its own sake but for the contribution that it makes to the quality of decision making within the organisation.' (Peter Boyle (2001 Marketing Management and Strategy, Prentice hall). This will help them to * Identify their competitors. * Improve their knowledge of consumers and competitors so that changing trends can be identified. ...read more.

Middle

wish to purchase the product.'' (M Evans & H Martinho (1999) Contemporary Issues in Marketing) The Research Process! First of all when conducting a marketing research it is important to 'Define the problem'. This involves clarifying the type of information required, why it is required, and what questions it is designed to answer. 'To a certain extent this will depend upon the objectives of the organisation' (M Evans & H Martinho (1999) Contemporary Issues in Marketing, Prentice Hall) There are three broad areas from which information may come. Most organisation will have internal information kept within their own record system. To be successful an organisation needs to know what you need, to discover where to find it, and then retrieve it. 'Nowadays computers have revolutionised the way information is stored, analysed and retrieved, which has made the task of dealing with internal information a lot easier.' (Alan Wilson (2002) Marketing Research, Prentice Hall) Internal information comes from sources such as: * Customer sales records * Client database * Sales representatives reports * Correspondence with customers * Unsuccessful bids quotations * Customer payment records * Internal assessment ...read more.

Conclusion

Primary data is first-hand knowledge, 'straight from the horse's mouth'. 'There are three basic techniques of field research to collect primary data: Surveys, observation and experiments.' 'The researcher must choose the appropriate method, whilst giving consideration to the relative costs, time availability, type of information required, type of people to be investigated, and the degree of accuracy required'. (Peter Boyle (2001 Marketing Management and Strategy, Prentice hall) After collecting the data it is necessary to draw conclusions from it which can be of value in designing marketing strategy. 'The analysis, interpretation and evaluation of results require an understanding of statistical theory. Particular reference should be made to techniques which test the significance of the findings.' (M Evans & H Martinho (1999) Contemporary Issues in Marketing, Prentice Hall) The final stage of a marketing research process 'consists of recommending the strategy to be pursued in relation to the product and the marketing effort'. (M Evans & H Martinho (1999) Contemporary Issues in Marketing, Prentice Hall) Marketing research is not pure research undertaken for its own sake, it is designed to provide answers commercially important marketing questions. ...read more.

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