Marketing Research Technique Essay Example
Marketing Research Technique Essay Example

Marketing Research Technique Essay Example

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  • Pages: 4 (1062 words)
  • Published: March 18, 2018
  • Type: Analysis
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In this text, we will discuss the technique and steps for conducting marketing research on cellophane products. A company that specializes in homophones is seeking recommendations for a research technique to investigate customer satisfaction, while justifying their choice. We will also explain the steps involved in designing the research and suggest creating a questionnaire with 20 questions to distribute to respondents.

Introduction: Commercial companies have the goal of generating significant profits for growth, especially in the face of intense competition and short product life cycles. To achieve this, getting closer to customers has become increasingly important as identifying the most profitable ones is crucial for success.

Marketing Research plays a vital role in assessing market success of products. Managers and business owners use this technique to identify areas for improvement, make marketing decisions, and overcome sale

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s obstacles. It also helps determine product positioning and market credibility.

With the increasing use of homophones, brands face fierce competition in the market. These companies strive to attract new customers by offering superior features at lower prices while enhancing brand awareness.

The manufacturer of MicroVAX intends to assess the attractiveness and satisfaction levels of their brand's homophones. Marketing research typically utilizes two methods: Qualitative and Quantitative. The Qualitative method involves experts engaging a small number of respondents to generate product ideas, conduct interviews, and utilize projective techniques. However, relying on a small number of respondents would not be appropriate for homophones due to their widespread market and large user base. Thus, the more advantageous approach is the Quantitative method as it gathers information from a larger number of respondents. This allows the manufacturer to draw conclusions, identify areas fo

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improvement to enhance satisfaction rates, and develop innovative features. Quantitative research encompasses various methods such as Observation research, Experimentation, and Surveys. In observation research, customers are observed during product purchase or usage while noting their frequency of visiting customer services. Nevertheless, this method may not always be entirely reliable due to multiple behavioral variables involved.Surveys serve as a research tool for gathering data from a large number of individuals, making them the preferred approach for marketing researchers. They provide valuable insights by reaching diverse individuals and obtaining varied opinions. Surveys are extensively used by politicians and commercial entities to develop strategies and assess product performance. Researchers utilize surveys to generalize findings and compare perceptions among brands. Multiple methods, such as telephone interviews, emails, and face-to-face questioning, can be employed for conducting surveys. Each method has its advantages and limitations; telephone interviews are cost-effective but have difficulty in asking multiple questions, while emails provide an affordable means but struggle with low response rates. On the other hand, face-to-face questioning is considered more reliable and provides better information.This text examines an alternative approach to measuring customer satisfaction, which avoids lengthy interviews and instead relies on simple information provided by customers. To conduct a successful survey using this method, it is essential to create an efficient questionnaire that does not require the presence of a professional interviewer and contains easily understandable questions. This method also allows for the use of visuals and the actual product during the interview, enhancing its effectiveness in evaluating physical aspects like color and size. Furthermore, combining telephone interviews with face-to-face questioning can yield valuable insights for a survey project.

For a mobile manufacturing company

aiming to identify its target market, quantitative research can be employed to determine the number of customers, while qualitative research can help understand why these customers chose specific products. By analyzing responses and behaviors of current customers, it becomes possible to pinpoint the target market. The research process involves several steps such as creating a research brief utilizing secondary data to define problems and needs, engaging in discussions with knowledgeable staff members, and conducting informal investigations. It is crucial to establish clear goals and methodologies in collaboration with the firm (AIL, 2012). Subsequently, developing a research proposal outlining methods, procedures, and costs for collecting and analyzing information becomes imperative.This proposal includes detailed information on research objectives, estimated costs, timeframe, and survey methodology. The data collection process will vary depending on the source of information and number of feedbacks gathered. It is crucial for market researchers to identify anticipated standards and factors that disappoint customers during the "moment of truth". There are two main types of data collected: primary and secondary. Surveys are used to gather primary data, which is considered more reliable and accurate. Secondary data may be cheaper but can potentially be outdated or less accurate. To ensure minimal errors in surveys, it is important to cover a larger population. Data collection methods such as field force or staff-operated personal interviews, telephone calls, or mail surveys are considered obtrusive. However, unobtrusive methods of data gathering do not disturb subjects while collecting data and provide better insights into competitor aspects while repelling existing company-associated customers. Proper selection, training supervision, and evaluation of the field force are necessary to minimize errors during data collection. After collecting

the data, it needs to be formatted for analysis. Each questionnaire should be inspected and edited if needed by assigning number or letter codes to represent each response. The accuracy of transcribed original questionnaires should also be verified.
Data analysis is carried out with a predetermined plan to give meaning to the collected data. However, it is important not to provide excessive detail in order to avoid discouraging managers from reading it. The following text summarizes the necessary steps for effectively utilizing and presenting collected and analyzed data. It emphasizes the significance of proper documentation, accurate interpretation of information, and incorporation of visual aids in oral presentations for improved clarity and impact. Moreover, it highlights the importance of questionnaire design, specifically mentioning a 20-question survey that covers topics such as gender, preferred cellphone brand, phone type (Android or Windows), importance placed on phone design, price as a determining factor, influence of friends on purchase decisions, preferred cellphone size (small, medium or large), color preferences when buying a cellphone, desired phone features (physical keypad or one-button interface), most crucial function in a cellphone, acceptable price range ($250 or $300), and screen size's relevance when choosing a cellphone. Additionally included are questions about individual preferences regarding camera versus internet usage on their phones; openness to purchasing a different brand than currently owned; satisfaction with the current cellphone purchase; and alignment between personality traits and chosen homophone device.

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