Marketing research should be carried out only when decision-makers (managers) do not have enough information to make a decision.
Research should be conducted before important decisions on issues are taken.
And with a good leeway!
The same, by the way, concerns work on paper. To begin with, you need to study the topic well and only then proceed with the presentation.
And we continue to provide you with examples of essays on marketing studies.
For effective market activity and conducting a purposeful competition, any firm needs studies. A large foreign company conducts 3-4 marketing researches annually. This is a kind of help, a foundation from which all important decisions stem from. Business is not an area where you can act at random. Every action must be carefully planned, justified and calculated, otherwise, losses may be irreplaceable. It is better to spend a certain amount on research than try to save and eventually lose everything.
We can examine specific and complex studies, the rationality of which is considered for each specific case and for each particular firm.
The main point of the marketing study is its focus on solving a specific problem or a body of problems. This focus turns collection and analysis of information into a study.
It can also be paraphrased and said otherwise: there is a simple collection of disparate data that can help solve one of the current issues, but which, apart from other issues, cannot serve as a material for planning the company's further promotion strategy. The study helps to connect all these issues into a whole, link answers together and provide exhaustive information on further actions.
The basic principles of conducting the study are objectivity, accuracy and thoroughness.
The principle of objectivity means the necessity to take into account all factors and inadmissibility of accepting a certain point of view before analysis of all collected information is completed.
The principle of accuracy means clarity of the formulation of research tasks, unambiguousness of their understanding and interpretation, as well as the choice of research tools that ensure necessary reliability of study results.
The principle of thoroughness means detailed planning of each stage of the study, high quality of performing all research operations, achieved due to the high level of professionalism and responsibility of a research team, as well as the effective system of control over its work.
Every firm determines independently the scope of the study based on its capabilities and needs for information, so types conducted by different firms may be different.
The annual research conducted by firms distinguishes both by scale and type. The size and specialization of a firm are the most important factors determining the scope of the study and its direction. Thus, moderate-sized firms spend a much smaller share of their budget on research than larger ones. Firms that produce consumer goods also spend a larger share of turnover on market studies, than the ones that produce industrial goods. Small firms, however, regardless of their specialization, do not tend to spend significant funds on studies.
It should be noted that, firstly, there is no unified classification of directions, and, as a result, different classifications are used in the data of different researchers. Secondly, due to the use of different samples of the surveyed firms, different data is obtained regarding the frequency of use of the same areas of studies. Thirdly, the relevance of certain areas of studies can vary in time.
From the point of view of the object of the study, here we are talking about a complex study.
We must say that many firms are very reluctant to conduct research. Reasons for this lie, firstly, in instability and unpredictability of the development of the economic and political situation in the country and, as a consequence, the aim of most firms to ensure current profits, and secondly, the lack of positive experience in conducting such studies and underestimation their usefulness by entrepreneurs.
Modern trends affecting the effectiveness of conducting research include:
- Increased availability of commercial databases.
- Increased use of new technology.
- Deterioration of the image of polls among buyers.
Due to the narrow range of firms performing such studies, these trends are not visible yet.
We can talk about a certain general methodology, which determines the order of studies. In this case, the process consists of five steps:
- Identifying problems and formulating goals.
- Selection of sources, collection and analysis of secondary information.
- Planning and organization of primary information collection.
- Systematization and analysis of collected data.
- Presentation of results.
Each of these steps can be different for a particular firm, but their consistency and meaning remain the same. And all of this does not depend on the size of a firm and the number of questions that need answers. There can be as many questions as 20 or 200, the only thing that will be affected by this is the complexity and duration.
We have provided you with another example of an essay, and, accordingly, a variant of the topic for selection. This topic can be broken down into at least a few sub-themes:
- Types of studies, comparative characteristics;
- Reasons for studies;
- How to ask the right questions when studying the activities of a specific company?
- The meaning of studies or What will you get as a result?
- Analysis of results.
If you combine all these issues in one paper, then its size will be inappropriate and it is unlikely that your teacher will appreciate such zeal. Choose one thing and immerse yourself in studying the matter. We assure you, you can write an excellent essay if you approach the matter with intelligence and common sense.