Market research and market evaluation Essay Example | Topics and Well Written Essays - 3500 words

Market inquiry and food market evaluation - test ExampleKotler defines marketing question as the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization (Philip Kotler). It has a wide coverage which includes market emf and market sh atomic number 18 studies, assessments of customers satisfaction and purchase behavior, studies of pricing, product, distribution and promotional activities (Philip Kotler).Another book defines marketing question as a structured approach to getting information around marketing problems and opportunities, for use in making marketing decision (Frederick Russ). It can be traced to the emergence of the affluent consumers after the World war II wherein marketers sought to convert this immature purchasing power into sales therefore the necessity to distinguish what the consumers want and need (Frederick Russ).The marketing Research process has four steps defining the problem and re search objectives, developing the research plan, implementing the research plan and interpreting the report findings (Philip Kotler).Various methods of market research are used to find out information about markets, target markets and their needs, competitors, market trends, customer satisfaction with products and services, etcetera Businesses can learn a great deal about customers, their needs, how to flirt those needs and how the business is doing to meet those needs. Businesses need not to be experts at methods of research either (Authenticity Consulting, LLC.)Data Collection can be from primary and from secondary sources. Primary Data Collection includes observation, survey and experiment which can be do personally or impersonally such as through mail or phone (Philip Kotler). collateral data collection usually includes commercial data sources and online databases and ineternet data sources (Philip Kotler). Quantitative and Qualitative MethodsMarket research can be either qu antitative or qualitative. While quantitative methods are designed to assess, visit and estimate buyer attitudes and behaviors (Power Decisions Group), qualitative marketing research provides the crucial information for the decision-makers and used in exploring new areas or deepen understanding of some market issues (Suite101.de).Quantitative market research can be online, phone,in-person, mail and intercept central location testing (CLT). The online methods provides a fast implementation especially for complicated measurement constructions, the phone provides the top-of-mind brand awareness and first reaction attitudes, the in-person has the hybrid quantitative and qualitative and provides depth in probing attitudes and beliefs by skilled interviewer, the mail allows time for respondent to think about complicated issues without pressure or interviewer influence and the CLT is for both the quantitative questions and for choice exercises in mock stores, and for corporal product ex aminiation and concept testing (Power Decisions Group). There are at least five considered basic methods of market research. They include surveys, focus groups, personal interview, observation and field trials (AllBusiness.com). Among these, the qualitative ones are focus group an in-depth interviews. direction Groups