Marketing Research Essay

Secondary research is done to research the data collection through the study of information which has already being researched from the hospital websites, articles, discharge and intake records or through primary research.

The strategy of secondary analysis was chosen for this research because it is cheap and timely in comparison to other forms of research. Using data collected by other reliable sources increases the validity of secondary data analysis research.

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

Market research indicates decisions made by a business, in this case Tesco, by helping the decision makers understand undercurrents of its market. This process involves research done on customers, competitors and the overall marketing environment.

Primary data are collected expressly for research. Observational studies, meaning studies with no dictated intervention, require the collection of new data if there is no adequate existing data for testing

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Secondary Research is research about information from someone, (like my client), that already exists or produced. I will probably use textbooks and the Internet, for Secondary Research.

This is existing research that has been gathered previously either by the firm itself or by other organisations. This type of research is collected quicker and cheaper as it has been already archived. Secondary data is normally found in internal and external sources.

Marketing research is best defined as, “a way of investigating and answering questions about human behavior,” (Bont, Et. Al, 2007). Essentially, marketing research is a tool that helps businesses stay ahead of the trends and maintain a competitive edge in the constantly changing global market. Companies that make marketing research a central part of their business plan will see the business grow and develop to not just achieve their business goals, but exceed them. Robert Duboff puts it into perspective in a way that anyone can understand in terms of why marketing research is a valuable tool, “Marketing

Primary and secondary sources are ways in which data can be retrieved. As Serakan (2006) stated, “Primary data refer to information obtained by the researcher on the variables of interest for the specific purpose of the study”. Various evidence suggesting to what methods of primary research can be conducted and which are most effective for the previously mentioned problem description are stated in this chapter.

They can also measure this through sending out a survey to customers who did not accept the organizations quote. Survey questions can include reasons for the quote being rejected, such as cost, quote turnaround time, and delivery lead time. One of the major advantages of primary data is that it can be “more specific to the problem being studied” (Kerin, R.A., Hartley, S.W., Berkowitz, E.N., and Rudelius, W., 2006) and one of the main disadvantages is the cost associated and time associated with collection. So what is the difference between primary and secondary research?

Secondary research is the process of searching published reports, articles, and books for information other people have collected.

The marketing research services provided by the company are intended to address most industry segments. This strategy is oriented towards reaching large customer segments that can provide important incomes. These services are provided by competitors also. However, most competitors are specialized only in some of these services, and cannot provide a combination of marketing information services in comparison with this company. Therefore, the fact that Marketing Solutions provides different services intended to satisfy different needs of customers can create competitive advantage.

There are 3 types of marketing research problem, first one is the exploratory research it is used in cases where the marketer has no idea about the research problem due to lack of proper information. For example, a marketer has heard about social media marketing techniques which are employed by their competitors with great success but he is not familiar with using these for his products/services. Second descriptive research is used to explain, monitor and test hypotheses created by marketers in order to help them find accurate answers. Third Causal research, the marketer tries to understand the effects of manipulating independent variable on other dependent variable and also to find cause