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WHAT IS THE ROLE AND SCOPE OF MARKETING RESEARCH IN MARKETING PRACTICE?

Marketing research can be divided into two key areas: the collection of information and the management of information. Information is collected and managed to make better marketing decisions. The collection of information usually falls into three key categories: market analysis, product analysis, and consumer analysis. Once the information is collected it is stored and managed from a database.

The initial phase of primary research involves clearly defining the problem and establishing research objectives and hypotheses. Primary research involves gathering new data from a representative sample. Primary data are collected from surveys, observation, and experiments. Survey data are qualitative or quantitative in nature. Qualitative data are collected by focus group interviews or by one-on-one interviews, and answer the question "why?" Quantitative data are obtained by questionnaires through personal interview, telephone, and mail or online surveys, and involve translating thoughts and feelings into measurable numbers. Once the data are secured, they are computer-processed for analysis and interpretation by the researcher.

The research process is complete when the marketing research company presents its findings to the client. Clear recommendations that resolve the problem are included in the report and the presentation to the client.

HOW DOES THE MARKETING RESEARCH PROCESS WORK?

The research process begins with a firm's becoming aware of a problem situation. From there, exploratory research is conducted to narrow the scope of the investigation. To do so requires the consultation of knowledgeable people and secondary data sources. If the problem is not resolved at this stage, the next step is primary research.

The initial phase of primary research involves clearly defining the problem and establishing research objectives and hypotheses. Primary research involves gathering new data from a representative sample. Primary data are collected from surveys, observation, and experiments. Survey data are qualitative or quantitative in nature. Qualitative data are collected by focus group interviews or by one-onone interviews, and answer the question "why?" Quantitative data are obtained by questionnaires through personal interview, telephone, and mail or online surveys, and involve translating thoughts and feelings into measurable numbers. Once the data are secured, they are computer-processed for analysis and interpretation by the researcher.

The research process is complete when the marketing research company presents its findings to the client. Clear recommendations that resolve the problem are included in the report and the presentation to the client.

HOW HAVE CUSTOMER RELATIONSHIP MANAGEMENT TECHNOLOGIES ENHANCED MARKETING PLANNING?

Customer relationship management and database management technologies are tools that offer meaningful insights into the needs and preferences of customers. A database is the nucleus of the organization's management information system. This system ensures the continuous and orderly flow of information to the decision makers, who use the information to develop marketing strategies. Simply understanding customers better provides valuable input for developing unique and individualized marketing strategies