A marketing dissection is aimed at obtaining reliable data about the needs of bidders for certain goods, services or programs. It is a reliable tool that allows market participants to make competent and informed decisions aimed at the effective promotion of their products and attracting attention from an increasing number of clients. Its core is the gathering of info.
What Is a Marketing Research?
A marketing study is a collection, analysis, and synthesis of data about a specific group of people, their problems and the degree of involvement in them, as well as the possible reaction to the proposed solution. It is a unique tool. It allows confirming or disproving the hypotheses put forward regarding the company’s marketing strategy being developed. Unfortunately, not all marketing researchers are preceded in accordance with the methodological interpellation for the process. As a consequence, their results may be incorrect. In this case, they do not give an opportunity to get an objective reflection of the existing reality, and also contribute to the formation of a negative attitude to such studies on the part of both the respondents and potential bidders. Only objective marketing investigation is able to prove its worth and compete against the backdrop of the development of new technologies and improve the chances for access to various commercial databases.
Two Ways to Study Marketing Activities
There are two kinds of marketing investigation. There is primary and secondary research. These are the alternatives facing the discoverer in determining the most effective method of collecting data, which would allow satisfying data needs. The primary research definition involves collecting the required initial data by using a specific form of interviewing or monitoring the aim bidders. Some kinds of data needs can only be met through primordial investigation. It can be preceded in the form of personal, telephone or postal polls; it can be group and individual, it can be preceded at the place of residence or work, as well as in the narrow aim bidders.
Two Types of a Primary Study
Primary market research can be qualitative and quantitative. In the course of the qualitative investigation, detailed data is gathered about the beliefs, opinions, and motivations of bidders, and then the influence of these characteristics on bidder preferences and behavior is studied. It allows receiving a direct response from the respondents themselves. With this type of research, it is possible to see and hear how respondents express their thoughts in their own words. It allows better understanding why bidders act in a particular way, rather than in some other.
Quantitative studies describe an existing picture with the help of numbers. The volume numerical data obtained during this type of investigation is statistically reliable and can be extended to the general population. There are three methods for its proceeding: an observation, physiological measurements, and a survey.
A secondary study is the search and analysis of previously published materials and the results of similar studies on the problem studied by rival entrepreneurs. The processing of such secondary data saves time and material resources that could be spent on proceeding an investigation already proceeded by someone.
Correlations between Primordial and Secondary Research
Therefore, there is a Difference between Primary and Secondary Research. When preceding a primordial study, the discoverer is responsible for setting the task, forming the sample, collecting and analyzing materials, presenting the results. The discoverer preceding the secondary investigation is connected to the work when the above tasks have already been performed. In this case, he does not develop a methodology.
For proceeding primordial study, the responsible person develops a plan and the content of the questionnaire in such a way as to satisfy the primordial need of end users in the data. A discoverer using secondary data should adapt and transform data gathered by someone else for other purposes so that they meet new interpellations.
These kinds of studies should be correlated. The combination of these two kinds of investigation contributes to the achievement of the best results when, at the first stage, a secondary investigation is carried out with the goal to compile a methodologically sound program of primary marketing research, and only then a direct survey of the respondents is preceded in accordance with the calculated sample.