Marketing Research Literature Review - 1259 Words

Marketing research I have chosen the market research because it is the very first step of most economical process. Philip Kotler (1994) define the marketing research as â€Å"function that links the consumer, customer, and public to the marketer through information-information used to identify and define marketing opportunities and problems; to generate, refine, and evaluate marketing actions; to monitor marketing performance; and to improve understanding of the marketing process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications..† Briefly it†¦show more content†¦Fourthly, analysing data should be done by preparing summary statistics for each question, broken out by relevant subgroups if necessary. May include coding of open end questions and advanced statistical techniques. Finally, Report the results for example create graphs, charts and text that communicate the findings. Conclusions/recommendations should be actionable regarding the defined problem. Hopefully it leads to a solution for the problem. Methodologically, marketing research uses four types of research designs, namely: †¢ Quantitative marketing research is about measuring a market and quantifying that measurement with data. Furthermore, it can be also used to measure customer awareness, attitudes and behaviour in a market by taking a statistical sample of customers. Such techniques are extremely powerful when combined with techniques such segmentation analysis and mean that key audiences can be targeted and monitored over time to ensure the optimal use of the marketing budget. Most often the data required relates to market size, market share, penetration, installed base and market growth rates. This type of research is generally used to draw conclusions, uses random sampling techniques so as to infer from the sample to the population. It is convergent reasoning rather than divergent reasoning.Show MoreRelatedStandardization in International Marketing Strategy Is Doomed to Failure: Literature Review and Methodological Critique1577 Words   |  7 PagesStandardization in International Marketing Strategy is doomed to failure: Literature review and methodological critique. 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