Marketing research is the information and analysis

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

View Full Document Right Arrow Icon
a company is able to lawfully spy on its competitors through public sources. Marketing research is the information and analysis used to understand a customer’s wants, purchase behaviors, and satisfactions. Through this research, a company is able to fulfill the needs of prospective and current buyers. There are several aspects a company must study. When a problem arises, the marketing manager and researcher must set objectives. Exploratory research is used to gather initial info to better define a problem. With descriptive research, a company can describe certain issues more elaborately. Casual research will demonstrate the proposed hypothesis through a cause-and-effect relationship. It is essential for a research plan to be realized in order to be considered for implementation. This plan should be presented in a written proposal with the collection of primary data (most important information) and secondary data (info collected for a different purpose). In able to attain primary data, companies must strategize with deciding on the following research approaches. Observational research discerns a person’s lifestyle. Ethnographic research sends observers to interact with consumers in their natural state. Survey research asks people specific questions and will base certain issues on the number of similar answers.
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern