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Marketing Research Practices - Essay Example

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A qualitative and quantitative research is must in developing a system for marketing analyses. Qualitative research is more of collecting data, conducting interviews, using documents and to understand and explain social phenomenon. Quantitative research involves is of development of natural sciences to study natural phenomenon…
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Marketing Research Practices
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MARKETING RESEARCH PRACTICES A qualitative and quantitative research is must in developing a system for marketing analyses. Qualitative research is more of collecting data, conducting interviews, using documents and to understand and explain social phenomenon. Quantitative research involves is of development of natural sciences to study natural phenomenon. Survey methods, formal methods, econometrics, etc., are some of the examples of quantitative research.
It's the research and analysis done by the scientists in different kinds of fields like engineering, marketing, etc., yielded fruitful results in the development of different industries, which became more and more consumer friendly. The main purpose of these developments was to develop products that could be used in everyday life.
The research involves finding potential problems in the present applications used and resolving them by updating them or using new products. The researchers found the flexibility of a product enables it to be used by more clients. Another important factor probably the most important one is the cost. If the final product is expensive there will be only few takers for it. Therefore research has been done to use cost effective products.
Qualitative research methods are more often used as it involves observation of data that helps in finding solutions to the problems. Qualitative research has been categorised into three categories named as positivist, interpretive and critical.
Positivist research methods involves attempt to test theory that to understand the predictive element of the phenomena. It involves formal propositions, hypothesis testing, measuring of quantifiable variables, etc. In this type of research it is assumed that the objectives are given in reality and can be measured by their properties.
Interpretive research method involves sharing of information and social constructions such as language. Interpretive method is used to understand the meaning of the given information that was assigned to the researchers.
Critical research as the name implies concentrates more on the critical view of the subject. It highlights the critical viewpoint of the situation that has to be analysed.
Action research and Case study research methods are as important as above-mentioned methods. The action research method describes what problems an organization is facing; what appropriate steps should be taken to resolve these kinds of situations. It is more often action-oriented method. Case study method involves studying the main object of the organization, how the situation is related to the real life context, etc. Case study can be positivist, interpretive and critical.
Planning
In any marketing sector marketing plan is considered to be very important and a thoughtful business plan cannot be overemphasizes because much hinges on it: financial support, management of the available resources like operation and finances, credit from suppliers, promotion and marketing and last but not the least company's goals and achievements.
Before writing a marketing plan some of the important questions that has to be addressed are:
1. What service does the business provide to the clients
2. Who are the potential customer and reasons for purchasing the service or product
3. What are the steps or ways you reach the potential customer
4. From whom or where the funds come
References
SBA. (2006). Writing the Plan. Retrieved 29 August 2006 <
http://www.sba.gov/starting_business/planning/writingplan.html>.
SBA. (2006). Marketing Basics. Retrieved 29 August 2006 <
http://www.sba.gov/starting_business/marketing/basics.html>.
Bethany K. Laurence. (2006). Will My Business Make Money Retrieved 29 August
2006 < http://www.nolopress.com/article.cfm/objectID/73FBAC1E-B3B2-432A-B186FE6E090326F5/111/228/296/ART/>. Read More
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