MARKETING RESEARCH

Research Methods and their Application to Marketing

Research Methods and their Application to Marketing

Introduction

Research methods used in the marketing comprise of human resources, equipment and procedures for the collection, organization, analysis, evaluation and distribution of information, and timely and accurate submissions to the responsible marketing decisions. The main purpose of this paper is to analyze different research methods which are used in the marketing. The research methods are very useful in the marketing because they help in analyzing the market, and formulating the appropriate and successful marketing strategies. The main purpose of this paper is to develop a procedure for developing market research, for it was a thorough review of the literature on the topics of marketing research and marketing approach, analyzing fundamental concepts such as customer satisfaction, quality and service, new product/services development, buyer behaviour and internal marketing, customer needs, internet usage in marketing, application of new media and social networking to marketing, and promotional effectiveness.

Background

The use of research methods in marketing delivers into steps as problem definition, objectives, developing the research plan, collection and analysis of information, presentation of results, implementation schedule and control. Without entrepreneurial energy and leadership, businesses are not thriving, particularly in the highly competitive environment that typifies most industries today. The role of marketing is to assume the role and responsibilities of the employer whose aim is to interpret traditional market requirements and relate them to available resources, in the same way involves important aspects based on a basic business philosophy, which is based on the desire to serve customers well, so that they acquire (and keep buying) goods and services offered by individuals and dealers competitive.

Rationale

The purpose of modern marketing is not the sale of products or services in any way (including cheating customers, or fraud) with customer satisfaction. It attracts to attract new customers by promising them a higher value utility, and to keep old customers and constantly meet their changing needs. Different strategies are adopted for the research in marketing to understand the needs and requirements of each market and select those that can serve their organization best. This will allow the organization to produce products of higher quality and thus increase sales and increase their revenues by meeting better the needs of target customers. Scientific and practical research methods in the field of marketing give an understanding of the supply-side capacity of the business.

Literature Review

The marketing research provides an organization with the segmentation. It helps the companies to identify the most appropriate market segment for themselves (homogeneous group of consumers), and in respect of which will conduct promotions, branding, and advertisements. It provides a company with the flexible response, which involves the production and marketing of rapid change, depending on the demand and supply elasticity, and changing needs of the market. The research methods in marketing involve the application of the scientific methods to the field of marketing. It causes blending of general steps of the scientific method to address the marketing issues. Marketing is to be encompassed with the social ...