Marketing Research Tools Essay - 1277 Words

Marketing Research Tools Strategic and tactical decisions need to be made when an organization needs to achieve the objectives of the research. Market research is a strategic step in determining the best solution for discovering opportunities and acquiring clients. This is the first critical step in the marketing department that creates a foundation for what a company needs to research to identify what opportunities are given and what steps need to be taken to achieve the goals. The process provides information for managers and necessary tools for the marketing mix, which can help with customer satisfaction and retention. It is important for proactive management because it helps develop marketing options through market segmentation,†¦show more content†¦For example, primary research would be conducted on situations in which there is a specific situation or problem that must be solved. In this case, the research would gather information on data related specifically to find solutions to the problem, w hich requires collecting original data. This includes in-depth interviews from the individuals by collecting and asking specific questions. The Internet is an excellent tool that helps collect primary information with e-mail surveys, interactive forums, online panels, and online focus groups. Secondary data can be very beneficial in market research because much of the data is already available and can be accessed through the Internet. This is particularly good if the project needs information immediately. This type of data includes existing company information systems and databanks of other organizations such as the Census Bureau or trade association studies and reports (Aaker, 2007). In addition, it can include consumer purchase panel sources, internal records, and external sources. Internal sources include internal records, customer feedback, and customer database. External sources published data sources, computer-retrievable databases, and census data. Qualitative and Quantitative Approaches Primary data collects data and has a specific research objective. In this case, methods such as qualitative research may be used. Qualitative researchShow MoreRelatedMarketing Research Tools Essay1198 Words   |  5 PagesMarket Research Tools Marketing research is primarily focused on two categories of research: primary and secondary. These two forms of research provide insight into the driving source of the business, consumer behavior and attitudes, and possible pitfalls to the business. Secondary research provides knowledge gathered from within the business or already published information from outside of the business. 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