Chapter 1 1&2
Marketing research has the key duty of helping to understand the working of things and change the knowledge within the development of the new processes. It is an important process in enabling the exchange process because undertaking surveys and gathering marketing information helps simplifying the process of exchange. Whenever a company want to sell their products or services to new or existing clients, marketing research is important in order to understand their needs and purchasing pattern. Marketing research is critical in understanding the competitiveness of company’s products in relative to others and what could be done to improve it. Failure to conduct marketing research could be detrimental to the company as they are not able to detect even the small mistakes. Thus critical marketing research is captured within the exchange process where it is regarded as a point of sales data (Babin & Zikmund, 2015).
There are trend of marketing research within both the nonprofit and for profit entities. Marketing research is critical in enabling companies to be at par with the developments or trends in the market or industry. In addition, nonprofits as well as companies require marketing research to understand the environment they working into so as to properly execute their mandate. This is because it helps these entities to understand their target market, thus serve it better to increase sales or reach more audience. For example companies use marketing research to understand the needs of their clients, changes in the needs of the market and ways to improve on their products. On the other hand, non-profit organizations make use of marketing research to better understand their audience thus meets their need. For instance, a charity organization can make use of marketing research to better understand the needs of the population it serves, cost of providing services and future potential (FAO, 2019).
Chapter 2 1&2
The definition of the research problems defines the correct nature of the details required in order for client to make decisions of marketing being addressed. In the case the question is not correctly defined, one will obtain wrong information making the research useless. This calls for prior research in order to ensure relevance in the definition and framing of the research question. The manager should make the decision and correctly communicate the same to those tasked with the duty of implementing the decision. Marketing researchers should be involved within the definition of the process (Balakumar, Inamdar & Jagadeesh, 2013).
It is important for manager to make wide consultation in order to correctly define the research problem. Experts’ advices and opinions could play an important role in this.
Explanatory research is employed by researchers to deeply look at the research problem. This is important as it could result into a better definition of the problem and of understanding the situation at hand. It could also help in better communication between researcher and manager for better results. Unlike other researches, explanatory research is qualitative and not quantitative. This is better as the results for critical research could not be used to generalize assumptions for other situations, but only for better comprehension of the situation (Scholar Commons, 2017).
In addition, it could use less time and less expensive but more comprehensive. This enables gathering and analysis of more information at far less cost compared to other forms of research. In marketing explanatory research is helpful for better understanding of an existing problem though it might not offer conclusive results.
Babin, B & Zikmund, W., (2015). Essentials of Marketing Research. Boston, MA: Cengage Learning
Balakumar, P., Inamdar, M. N., & Jagadeesh, G. (2013). The critical steps for successful research: The research proposal and scientific writing: (A report on the pre-conference workshop held in conjunction with the 64(th) annual conference of the Indian Pharmaceutical Congress-2012). Journal of pharmacology & pharmacotherapeutics, 4(2), 130–138.
FAO., (2019). The Role of Marketing Research. Retrieved from http://www.fao.org/3/w3241e/w3241e02.htm
Scholar Commons., (2017). Theory and Methodology of Exploratory Social Science Research. Government and International Affairs Faculty Publications. Human Journals Review Article February 2017 Vol.:5, Issue: 4
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