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Types of Marketing Research

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Introduction

´╗┐Manual of Marketing Research Task 1 Unit 10 Market Research - The process of gathering, analysing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face. (http://www.entrepreneur.com/encyclopedia/term/82436.html) Primary Research ? collecting data which has been not yet processed. This research contains original information and it is completed for the first time. There are several methods of primary research including: observational, experimental, surveys, e-marketing research, piloting research, field trials, focus groups and panels. Observational: data is collected by observing actions, services or customers. This kind of data has not been yet processed but once completed, it will be processed and analysed. It is a good idea to carry out this type of research if the product is changing or has to be developed - the business is able to identify how the customers are interacting with products or services. Experimental: introducing a new strategy and recording a result of this action. This will probably involve a change in the marketing mix. ...read more.

Middle

It can interact with any website applications made by the company. Website monitoring is mainly used to ensure that there are no errors and the website is fully working. This kind of secondary research may also involve simulation of visitors? reaction to certain changes ? this allows the business to observe customers? reaction. E-transactions: transferring money from one person to another over technological sources (devices). This kind of secondary research is usually used to pay for products ordered on the internet. Accounts and production records: these information are kept by all businesses; including any documentation, statements or records of the company which are relevant such as financial records, journals, checks and purchases. Accounts and production records would be really useful when it comes to writing business reports. Sales personnel: a person with good marketing knowledge who offers and sells products to businesses or customers. This person has to have certain skills in order to persuade customers to buy. Sales personnel would usually make a relationship with the customer in order to be more successful. Delphi technique: interactive forecast. This technique involves choosing a panel of experts who are completing questionnaires providing judgements on certain products or services. ...read more.

Conclusion

Marketing mix is all about getting the right product on the right market with a suitable price and having a successful promotion plan. Technical marketing: can be described as taking technology to the market. This would be completed by having a product concept which is developed and promoted. Databank: contains a lot of information on many subjects. It can be organised in rational manner or alphabetically. If there is more than one databank, someone may decide to build a new database. Ad-hoc market research: collecting data from one sample of potential/existing customers which is then used to identify marketing problems. This research would include: product usage survey, new product concept tests, advertising development, corporate image surveys and customer satisfaction surveys. Continuous research: asking the same group of people to get to know their opinions repeatedly. Types of continuous research are: 1. Consumer panels ? recruiting a lot of people who are giving their opinions on buying. These people would usually have common interest. 2. Retails audits ? observing changes in brand loyalty, market share and how effective different retails formats are. This kind of research would involve cooperation with retail outlets. 3. Television viewership/radio listening panels ? measuring number of views or listening. This kind of information would be used to determine programmes strategy. ...read more.

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