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Marketing Research

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Introduction

Marketing Research Definitions 1. Market Research - Market Research is to simply find out. There are four main categories, the C's. Customers - The people you'll be selling products to. Consumers - The people who'll use your products. Competitors - Alternative suppliers of your goods etc. Costs - The amount you set on a product to start your business. 2. Market Segmentation - Market Segmentation is when businesses have to make a number of choices and decisions like, are the customers going to be young, old, rich or poor etc? But in order for this segmentation they have to take a process. The business will have to break down the market into various different groups or types of consumers as each group or segment will have its wants. ...read more.

Middle

Primary research can be carried out either by face-to-face, over the telephone, post or over the Internet. 7. Some various methods that businesses use in carrying out primary research are: Face to Face research Telephone Research Postal Research E-mail Research 8. These are the advantages and disadvantages of the various methods of primary research. Face-to-Face Research Facts Advantages Disadvantages Town centre shopping centres with permission Flexibility and control Low cost Fast Response Time consuming Respondents may not be interested Respondents may be abusive or disinterested Respondents have little time to think Door to door having given local police a copy of a questionnaire and a photograph High response rate More honest responses Can see respondents Judge body language No need to ask details of age,sex,etc. Time consuming Respondents may not be interested or may be abusive Respondents may be disinterested and have little time to think Cold calling More honest responses Can see respondents Judge body language No need to ask details of age,sex,etc. ...read more.

Conclusion

junk email Respondents have some thinking time Can be quite quick Can go back to clarify answers Difficult to obtain email addresses Fairly low response rates 9. Sampling - Sampling is when you take parts of the area or place to get for instance a survey done for your product. Of course you can't get the whole world to take part as it would be time consuming and too much money spent so you should take a certain area or place of the population. The different various types of sampling are: Cluster sampling Convenience sampling Judgement sampling Quota sampling Simply random sampling Systematic sampling Cluster Sampling When researching the population "clusters" are certain groups that are specified for a certain area or unit of the population. (E.g. a secondary school in Sussex.) A random sample of clusters is done, and then all the units within the cluster are examined. ...read more.

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