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Introduction To Market Research And Planning. The Theory And Practice And The Benefits

1818 words - 7 pages

Marketing research plays a significant part in the development of marketing plans because it allows the organisation to become less isolated from the key trends and changes, which surround their product. To continue to be successful, organisations must receive information, from the researcher that is clear and accurate. It also has to satisfy your pre-determined goal for your research."Marketing research is the function which links the consumer, customer and the public to the marketer through information."A.M.A definition (McDonald And Gates'1996)Market research identifies issues that have a direct effect on the organisation, through the analysis of the results. The results and obtained information must be collated and presented in a form that is easy to understand. Instead of raw data, you have a series of graph, charts and tables.There are three main types of research, diagnostic, descriptive and predictive. Diagnostic research is used when you need to analyse the effectiveness of an advertising campaign. Descriptive research is fact finding secondary data. You would use this when you planned to sample a section of a target audience for a particular product. Predictive research is about identifying new opportunities in a market place and calculating the effect of marketing decisions. You would use this if the organisation were planning to expand or regenerate their product.When conducting research, you have to use a sample of your population. The reason why you use a sample is because you can't physically research every single person in the country, unless you are the Government and you are conducting a census. Your sample should consist of people who fit into the research requirements. Sampling is cost and time effective, which are extremely important to the organisation that are commissioning the research because they are anxiously waiting for the results of the research.The research data, which has been collected can be categorised into two main sections, qualitative research and quantitive research. Usually most research contains particles from both sections.Qualitative research is when the information is open to broad interpretations. It is not concerned with finding statistics, which relate to the product but focuses on the reasons lying behind certain areas, for example consumer feeling and motivation. Qualitative research is a more flexible approach as it explores customer behaviour, it identifies and analyses their emotions. This research is usually conducted on small samples because the finding will be divers and full of 'richness'. This research cannot be generalised as it deals with complex issues that tend to be unique to the individual, human emotions.When using Qualitative research, there are several research techniques that you can use. The techniques must be on a more personal scale, in comparison with quantitive research, as the research requires that source of information. Primary data is excellent as it is specifically...

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