The paper “ Qualitative Research and Questionnaire Design" is an excellent example of a research paper on marketing. Churchill and Iacobucci give a basic outline of marketing research, indicating that marketing research involves and helps businesses to obtain information about the consumer perspective. In general, Churchill and Iacobucci (page 5) points out that marketing research involves the process of linking the marketing department of a business organization to the public and specifically the customers and consumers. Bradley and Nigel (page 4-6), further indicate that this process of marketing research helps business management to get information from the customers that is reliable and valid for use in making decisions with the aim of improving products and services.
In addition, such information is relevant for the management to identify available opportunities in the market as well as problems. This would help the management to establish proper actions or refine their marketing activities. According to Hauser and William (page 38-54), tools and techniques for conducting marketing research advanced especially during the twentieth century. The advancement of quantitative and qualitative research techniques and tools has facilitated business organizations to understand their customers, markets, and competition in the market.
Web-based interview systems, as well as telephone interviews, have replaced the pen and pencil method of conducting market research. According to Churchill and Iacobucci (page 5), marketing research methods depend on the design or the mode of carrying out the research. Marketing research conducted through questioning falls into two distinct categories, qualitative market research, and quantitative market research. Student perceptions and expectations of banksOther than creating products and services, every business has the role of attracting and retaining customers.
This, according to Mariamplolski (page 2), has shown a growing trend, especially during the twentieth century. The concept of marketing has also shown an advancing and growing trend among businesses. Studies show that businesses have started placing customers at the forefront when designing products and services (Mariamploski, page 2). Businesses design products and services based on the needs of the customers, and sometimes with directions from the customers. This has resulted in firms not moving products by pushing but by pull power from the customers. They achieve this by producing goods and services after a clear understanding of the preferences and opinions of the customers and make attempts and efforts to meet them. Bank customers have diverse needs that bank programs and services should meet.
Successful banks strive to achieve these diverse customer needs by offering diverse products and services as well as prices that suit the preferences of a specific set of customers. This is essentially market segmentation, which is common to banks that target college and university students as their customers (Pass and Michael, page 49-63). Research indicates that banks that are located close to colleges or branches of banks near collages often have various promotions to college students with the main aim of improving their competitive abilities (Smith and Anne, 39-54). Research indicates that a large number of bank customers switch accounts from one bank to another (Pass and Michael, page 49-63).
This makes banks experience a hard time making their customers satisfied in order to prevent them from using products and services from competing banks. Retaining customers, especially university students, requires an understanding of various key criteria. First, it is worth understanding the perceptions of the customers of the performance of the bank in the market.
According to Smith and Anne (39-54), understanding customers’ perception enables banks to make decisions regarding the features of the accounts, banking fees to charge and the programs to include in supporting customer service. A proper understanding of this criterion helps any bank marketer to establish services that differentiate one bank from the others, making it competitive in the banking industry.