MKT 421 Week 2 DQ 1

MKT 421 Week 2 DQ 1 - up 33% of all survey-based research...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
What is marketing research? How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy? What is marketing research? Market research is the gathering and studying of data in respect to marketing situations. “We define marketing research as the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company” (Kotler & Keller, 2009, p. 90). Many large companies have marketing research divisions and budget a portion of sales for the expense. How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity. The Internet has expanded the possibilities of marketing research. Companies can place questionnaires on their web sites, place banners for customers to answer questionnaires, email studies, and the like. “Online research was estimated to make
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: up 33% of all survey-based research in 2006, and Internet-based questionnaires also accounted for nearly one-third of U.S. spending on market research surveys in the same year (Kotler & Keller, 2009, p. 101). In addition, online marketing research is fast, inexpensive, and usually more valid. With the lower cost, faster results, validity, and wide array of approaches available through Internet marketing research, certainly a company would benefit from such an approach. Why is marketing research important to developing marketing strategy? An important task of marketing research is to assess the efficiency and effectiveness of marketing activities (Kotler & Keller, 2009, p. 106). Marketing research is important to develop marketing strategy. Researching the individuals purchasing your product helps the company gain valuable information about its customers. Reference Kotler, P. & Keller, K.L. (2009). Marketing management (13th ed.). Upper Saddle River, NJ: Prentice-Hall....
View Full Document

This note was uploaded on 11/14/2011 for the course MKT 421 taught by Professor Unknown during the Spring '08 term at University of Phoenix.

Ask a homework question - tutors are online