Marketing and Pricing - страница 5

Primary information is generated in the process of data collection methods to address a specific problem. It is necessary when secondary data are insufficient in terms of their completeness and values.

Secondary information is the data obtained from the accounting and statistical reporting, special publications, directories, i.e. information collected for another purpose.

Market research presupposes the collection and analysis of data on specific marketing situations with which the company has faced in the market. Such activities are carried out periodically, rather than continuously, as soon as certain problems on the basis of the use of special methods for collecting and processing the data collected.

Depending on the nature and purpose of market research three relevant areas are identified (exploratory, descriptive and casual). Any such direction includes certain methods of collecting and analyzing marketing information.

Exploratory research is a marketing research conducted to gather preliminary information needed for a better definition of the problems and put forward suggestions (hypotheses), in which implementation of marketing activities, as well as clarifying the terminology and setting priorities among the tasks of research is expected.

Descriptive research is a marketing research aimed to describe marketing problems, situations, markets, for example, the demographic situation, consumers’ attitudes toward the company’s products.

Causal research is a market research conducted to test hypotheses about cause-and-effect relationships.

Under the experimental research is meant collecting primary data by selecting the same type of groups surveyed, the issuance of different tasks, monitor the factors that affect the results and comparison of the differences in group responses.

Marketing research process includes the following steps and procedures:

1. Defining the problem and research purposes.

1.1. Determining the need for market research.

1.2. Problem definition and formulation of marketing research purposes.

2. The development of the research plan.

2.1. The choice of methods of marketing research.

2.2. Determining the type of information required and the sources of its receipt.

2.3. Determination of methods of collecting the necessary data.

2.4. Development of a questionnaire to collect data.

2.5. Development of sampling plan and determination of sample size.

3. The implementation of the research plan.

3.1. Data collection.

3.2. The analysis of the data.

4. Interpretation of the results and bring them to the leadership (preparation and presentation of the final report).

Marketing research involves, as a rule, all the elements of the outer and internal business environment of a business entity. However, very often all sorts of circumstances hamper the comprehensive study of marketing, but there are a number of positions, which in any situation should be transparent to the manufacturer. Among them, first of all, can be distinguished: market demand, capacity and market share, especially of consumer preferences and market segments for consumer goods and industrial goods. In this regard, we will try to consider them in details.

When an organization or company decides for itself the choice of the target segment, target market, it is based, first of all, on market demand.