Marketing research can be defined as the collection, collation and analysis of data relating to the marketing and consumption of goods and services. Market research aims to identify product development opportunity by providing information about customers, their needs and wants, their views and their uses of products and services.
- Should be an ongoing activity.
- Must be relevant- the information gathered should inform the marketing problems faced by the firm.
- Information obtained should be recorded objectively and systematically so that the firm can draw on it at a later date.
- Information must be analyzed and presented so that it can be acted on by management, research and development departments or promotion agencies.
Primary research is information which does not already exist. In other words, it has to be collected by the researcher. Most primary information is gathered by asking consumers questions or by observing their behavior. The most accurate way to do this would be to ask or observe all consumers of a particular product usually known as the population. It is usual to carry out a survey of a sample of people who are thought to be representative of the total market. There are various types of primary data’s used by organisations which are listed below.
- Questionnaires-There are certain features that a business must consider when designing a questionnaire. If it is poorly designed it may not obtain the results the firm or organisation is looking for. This was the type of research we actually used in our Young enterprise and it actually helped use to know what our customers needed.
This involves an interviewer obtaining information from one person face to face. It is usually used where the subject matter is of a confidential nature or where very detailed information is required. During a highly structured interview, the interviewer asks a number of questions. There is no deviation from these questions and the interviewer must not say anything else to the respondents. This ensures that the answers given by all respondents are exactly the same questions. As a result, there is no bias in the collection of data, even though many interviewers may have been involved in the survey. The information is also easily analyzed when responses are coded and analyzed using computer. In an unstructured interview, the interviewer has a number of general questions to ask but the order and wording of the questions are considered important. The interviewer can be likened to a conservation with the interviewer encouraging the respondent to develop their answers as they wish.