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The purpose of this report is to explain the four steps of the marketing research process and investigate and justify which of the steps is the most difficult to undertake

Extracts from this document...

Introduction

Table of contents Executive Summary 1 1 Introduction 2 1.1. Purpose 2 1.2. Scope 2 1.3. Method 2 1.4. Limitations 2 1.5. Assumptions 2 1.6. Definition of Supermarket Industry & Industry Overview 3 2 Porter's Five Forces Model 3 2.1 The threat of new entrants ...........................................................................4 2.2 The bargaining power of buyers ....................................................................4 2.3 The bargaining power of suppliers .................................................................5 2.4 The availability of substitutes .................................................................................6 2.5 The intensity of rivalry ..............................................................................6 2.6 Market Position Classification .....................................................................6 3 The Generic Strategies ................................................................................7 3.1 Cost Leadership Strategy...........................................................................7 3.2 Differentiation Strategy ...........................................................................7 3.3 Focus Strategy .......................................................................................8 4 Value chain analysis .................................................................................... 8 5 Trends & Recommendations 9 5.1 Petrol vouchers issue .................................................................................9 5.2 Plastic bags issue .....................................................................................9 5.3 Food safety concerns ................................................................................9 6 Appendix .................................................................................11 7 References 13 1 Introduction 1.1. Purpose The purpose of this report is to explain the four steps of the marketing research process and investigate and justify which of the steps is the most difficult to undertake. 1.2. Scope The report generally describes each step in the marketing research process. The report also discusses the hardest step in the whole process and provides an appropriate example. 1.3. Method In order to complete this report, journal articles, secondary data contained in books are used to research the topic. Besides these, internet resources are selected to supplement the report. 1.4. Limitations The limitations of the report were limited resources relating to the topic and the report may not cover completely the whole information in this area as the words limitations. ...read more.

Middle

Primary data may be quantitative or qualitative in nature. Quantitative research is a statistical tool that helps companies develop and market products that will succeed in the marketplace. It is used to establish statistically valid numerical data. Qualitative research is an unstructured, exploratory research method based on small samples intended to provide insights and understanding of the problem setting. It is used when a business needs to discover people's motivations and feelings. (Barson, 2003). Quantitative research has benefited to some extent from the increase of databases through direct marketing and the Internet. These have served to boost its ability to collect consumer data. While in qualitative research, agencies and companies are anxious to find better ways to understand the consumer's thought processes and motivation (Clarke, 2001). The complexity and competitiveness of the marketplace often requires the strength of both qualitative and quantitative research. Companies that combine the two have the advantage of generating more trust in the results, because they are confirmed by means of different data sources and methods. Another advantage of combining these two methods is that it creates new lines of thinking; it can cause fresh perspectives or even contractions to emerge (Barson, 2003). In planning primary data collection, marketers have to make decisions about four areas: the research approach, sampling plan, contact method and research instruments (Kotler et al., 2004). Usually, marketers use observation, survey and experiment as the research approach. Observational research is the merely to record what can be observed, for example, the number of automobiles that pass by a proposed site for a gasoline station. ...read more.

Conclusion

One of the most difficult steps in the whole process is defining the problem as the management may not willing to talk about the problems or the problems may be defined too broadly or too narrowly. Careful problem definition can avoid the unnecessary cost and time. 6 Reference List Barson,D. C., (2003), "Quantitative market research", Global Cosmetic Industry,Vol.171, Iss. 2; pg. 18, 1 pg Castleberry, S. B., (2001), "Using secondary data in marketing research: A project that melds Web and off-Web sources", Journal of Marketing Education, Vol.23, Iss.3; pp.195-206. Clarke, A., (2001), "Research takes an inventive approach", Marketing, Vol.34, Iss.3; PP.25-27. Furrer, O. and Sudharshan, D., (2001), "Internet marketing research: Opportunities and problems", Qualitative Market Research, Vol.4, Iss.3; pp.123-130. Gibson, L.D., (1998), "Defining marketing problems", Marketing Research, Vol.10, Iss.1; pg.4-13. Hamlin, R. P., (2000), "A systematic procedure for targeting market research", European Journal of Marketing, Vol.34, No.9, pp.1038-1052. Kotler, p., Brown, L., Adam, S. and Armstrong G., (2004), Marketing (6th edn), Prentice Hall, Australia Malhotra, N., Hall, J., Shaw, M. and Oppenheim, P., (2002), Marketing Research: An Applied Orientation (2nd edn), Prentice Hall, Australia Passikoff, R., (2002), "The arrogance of 'blue light' research", Brandweek, Vol.43, Iss. 5; pp. 20. Yaman, H. R. and Shaw. R. N., (2002), "Marketing research and small travel agents: An exploratory study", Journal of Vacation Marketing, Vol.8, Iss. 2; pg. 127-141. Zikmund, W. G., (2000), Exploring Marketing Research (7th edn), Dryden, Sydney. Hamlin, R. P., (2000), "A systematic procedure for targeting market research", European Journal of Marketing, Vol.34 No. 9, pp. 1038-1052 ?? ?? ?? ?? 0 ...read more.

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