The paper "Marketing Research Review of E-Learning Materials" is a perfect example of a marketing assignment. Marketing research is becoming important in today’ s business life. Companies, through market research, have been finding opportunities to improve their products and services to make them more useful to customers. Obviously, organizations are achieving this aim by answering questions about target audiences and their needs and wants, geographies, market environments, among others. According to Vasquez (2010), the ideas of market research and marketing research were developed in 1920 by Daniel Starch, at the same time advertising had been introduced in the United States.
Early 1930s Starch noted his theory that for effective advertising, it was demanding for advertisements to be seen, read, remembered, believed and acted upon. Soon, he would develop a research company that could interview people, asking them if they read his advertisement publications. Thereafter, many companies offering marketing and market research services began to emerge, improving on Starch’ s techniques. Before one starts a business, it is important that he understands the basics of doing successful market research. This will be important in leading him to learn about his customers, industry and competitors (SBA 2014).
The market research will be much instrumental in enabling one to realize services and products that are in demand, and therefore how he can be competitive. Currently, it is lucky that there are numerous ways to collect information from potential customers- online researches to focus groups (Blank 2014). This research paper aims at discussing the process involved in market research by exploring the contents learnt in class. In this regard, it will explain exactly, the meaning of market research in detail.
The next step will involve outlining and elaborating on steps within the process of marketing research. Since questionnaires are expected in doing surveys to uncover customer information, the next section will discuss methods of writing a good market research questionnaire. This will also include defining a questionnaire and its importance in market research. The last section of the discussion will involve sampling; there will be definition and discussion of how it can be done to ensure proper data description, analysis and conclusion while uncovering information about potential customers. Week 1: What is Market Research? Market research refers to any organized efforts for gathering information about potential customers or target market.
This is one of the major components of a business strategy. Although the term has commonly been interchanged with marketing research, expert practitioners have sought to draw distinctions between them. While market research is specifically concerned with markets, marketing research is specifically concerned with marketing processes involved. Verma (2014) notes that in both cases, there must be data collection, data processing, data analysis, information evaluation and client presentation. Therefore, market research is the process by which firms or persons gather, analyze, and interpret raw data about customers/ target market(s), competitors, products or services about the present and past, and potential consumers to uncover usable information about them.
The data will be collected using techniques such as focus group discussion, secondary sources, and interviews among others. The next major step will involve analyzing the data by using analysis techniques such as quantitative or qualitative methodologies. After providing the data in more refined ways, it could then be used for interpretation to find solutions to the asked questions at the beginning of the research (Verma, 2012).
List of References
Aitken, G 2010, December 6, 10 Step Guide to Questionnaire Design by RCU? [video file], viewed 21 September 2014
Blank, S 2014, How to Do Market Research, Inc, viewed 21 September 2014
Gibbs, G R 2014, October 24, Sampling. Part 2 of 2 on Surveys and Sampling [video file], viewed 21 September 2014
Hurlbert, J and Koenigs M 2009, October 29, How to Write a Market Research Questionnaire [video file], viewed 21 September 2014 < https://www.youtube.com/watch?v=tPP5s7xqekk>
Richardson, T 2010, Jan 20, 5 Steps in the Marketing Research Process [video file], viewed 21 September 2014
SBA, US 2014, Understand Your Market, SBA. Gov, viewed 21 September 2014
Schulz, J 2012, August 14, What is a Questionnaire? [video file], viewed 21 September 2014
Vasquez, J 2014, The History of Marketing Research, Market Research World.Net, viewed 21 September 2014
Verma, AK 2014, What is Market Research?, Market Research, viewed 21 September 2014
Verma, A K 2012 October 15, What is Market Research? An Informative Presentation [video file], viewed 21 September 2014