What Is the Process To Do Marketing Research For your Term Papers?
The first step which you need to follow is to make sure about the information and the background of the topic. Start writing your paper by defining marketing research and “as the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.” Such research activities can be undertaken within the organization itself, although in many cases outside marketing research organizations or consultants are hired to conduct any studies or research needed. The rationale for this outsourcing is based on the fact that marketing research can involve both specialized expertise and knowledge, and often it is easier and time saving to seek outside counsel and assistance rather to attempt to initiate such studies in-house.
Next your responsibility is to give further details related to the topic. However implemented, marketing research is generic in terms of process and is usually seen as involving six distinct stage including problem definition, developing the research plan, collecting information, analyzing the data that have been gathered, presenting findings and recommendations, and taking decisions based upon the research and other factors.
In conducting research, firms must decide whether to collect their own data or use data that already exists. Data originally collected for the purpose at hand are referred to as primary data while secondary data are data that were originally collected for another purpose and have been sourced from some existing study or database. Both primary and secondary data have an important role to play in conducting marketing research.
Primary data would seem (intuitively) to be the preferred choice since the requirements and information needed can be specified in advance, an appropriate research design and sample of the population specified, and original and current data collected accordingly. Research based upon such primary sources has the unique advantage of being posited on exactly the questions or issues specified by the research team. There are, however, some negative aspects to primary data based research. First, the costs of formulating a research plan to collect such data can be costly and the time taken to complete the study may be lengthy.
In addition, it may be difficult to collect data that specifically meets the specifications sought for a variety of reasons including the ability to survey a representative a sample of the intended population, or the ongoing activities of competitors who may seek to influence the outcome of any survey by making pre-emptive changes in their own marketing strategies as well as other environmental factors.
Secondary data, by way of contrast, may be more readily accessed at a lower cost and provide a reasonable basis upon which marketing-related decisions can be taken including the need to conduct further research using primary data based methods. In any event, marketing researchers will normally seek out available secondary data and sources first to see if there is need for further investigation as this can be a less costly and time consuming task.
So that’s all for today and keep reading posts and give your feed back.