Data previously collected and assembled for some project other than the one at hand {text:list-item} {text:list-item} Can almost always be gathered more quickly and inexpensively than primary data But may be outdated or may not exactly meet the researchers needs Secondary data, or historical data, are data previously collected and assembled for some project other than the one at hand. secondary data often can be found inside the company, at a public or university library, or on the internet.
In addition, some firms specialise in providing various types of information, such as economic forecasts, that are useful to many organisations. The researcher who gathers data from the Australian bureau of statistics (ABS) or from the economist intelligence unit is using secondary sources. Secondary sources often prove to be very valuable in exploratory research. Investigating such sources has saved many a researcher from inventing the wheel in primary data collection. SUMMARY marketing research is a tool companies use to discover consumers’ wants and needs so that they can satisfy those wants and needs with their product offerings.
Marketing research is the marketing manager’s source of information about market conditions. It covers topics ranging from long-range planning to near-term tactical decisions. Marketing research is the systematic and objective process of generating information – gathering, recording, and analysing data to aid marketing decision-making. Basic or pure research seeks to increase knowledge of theories and concepts. The development and implementation of a marketing strategy consist of four stages: Identifying and evaluating opportunities
The Term Paper on Outline And Explain The Marketing Research Process
Marketing research is “the planned and systematic gathering and collation of data and the analysis of information relating to all aspects of marketing and the final consumption of goods or services” -Leader & Krystis. Sometimes a company may want information about its customers, and so will carry out research. The marketing environment is constantly changing and as marketers we ...
Analysing market segments and selecting target markets Planning and implementing a marketing mix that will satisfy customers’ needs and wants and meet the objectives of the organisation Analysing marketing performance. Marketing research helps in each stage by providing information for strategic decision-making. Managers use marketing research to define problems, identify opportunities and clarify alternatives. They also use it to determine what went wrong with past marketing efforts, describe currents events in the marketplace, or forecast future conditions.
Marketing managers determine whether marketing research should be conducted based on: Time constraints Availability of data The nature of the decision to be made The benefit of the research information versus the cost. Decision-making is the process by which managers resolve problems or choose among alternative opportunities. Decision-makers must recognise the nature of the problem or opportunity, identify how much information is available, and recognise what information they need. Every marketing decision can be classified on a continuum ranging from complete certainty to absolute ambiguity.
Research proceeds in a series of size interrelated phases. The first is problem definition, which may include exploratory research using secondary data, experience surveys or pilot studies. Once the problem is defined, the researcher selects a research design. The major designs are surveys, experiments, secondary data analysis, and observation.
