Research for Promotional Plan Marketing Assignment

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Research for Promotional Plan
Introduction
Marketing research technique is associated with collection, organization, deep analysis and also communication of information which can be utilized for the purpose of creating an informed marketing related decision. Performance of market research is essential in complementing an individual’s marketing concerned mix strategy (Bradley, 2013). It is because it enables one to come up with educated and comprehensive decisions in association with selection of markets, branding, and the image and last but not least products and also services. There are five major steps associated with marketing research which are definition of the problem, collection of information, analysis and interpretation of the collected information, arriving at a conclusion and implementation of the relevant research. The following essay will precisely and concisely describe three kinds of marketing research methods and present comparison and contrast of the same.
Compare and Contrast 3 Marketing Research Methods
There are various types of market research methods that are utilized by businesses and organizations, however many institutions use just the fundamental methods which are surveys, observation, focus groups, filed trials and also personal interviews (Bradley, 2013). The type of information that an individual requires and the amount of financial requirements available is essential in determination of what kind of technique to employ while undertaking a market research for the identified business. For a small business involving cosmetics and beauty products, I came up with surveys, personal interviews and focus groups as the most appropriate types of research methods for the business.
Surveys help an individual to carry out a straightforward analysis involving a certain group which makes up a representation of one’s target market. There are different types of surveys which are in-person type of surveys which entail one on one associated interviews which are conducted in locations considered to be high-traffic like shopping malls. In this kind of surveys, there is allowance or an individual to give people sample products, carry out packaging or even advertise and collect immediate feedback. In addition, there is telephone kind of surveys which are less expensive in comparison to in-person surveys (Parasuraman, 2007). However, they are more expensive than mail surveys. They are efficient in the current world whereby most people prefer telemarketing. On the other hand, Mail surveys are efficient in getting to cover a wide audience and are cost effective in ...