Basic Methods of Collection of Marketing Data
DRC 24 Marketing Research
1. Explain with appropriate examples the basic methods of collection of marketing data? Data Collection in Marketing Research is a detailed process in which a planned search for all relevant data is made by researcher. Data collection is an important step in the market research process. It involves gathering information about customers, competitors, and the market to help companies improve existing products and services and launch new products or services, expand into new markets, and create marketing plans. This process can be performed on a large or small scale and can involve both qualitative and quantitative data. By utilizing the Internet, data collection allows for a broad range of consumer feedback on behaviours, perceptions, needs, attitudes, and opinions. Data collection projects range from simple habits and attitudes questionnaires, which gather data from large number of consumers, to complex in-home product testing, which gather in-depth consumer insight. Though data collection by means of the Internet provides a cost-effective approach to market research, at times traditional methods such as focus groups and in-home interviewing can prove to be effective as well. Data collection includes the collection of all the relevant information about the consumers, their taste, needs and preferences. This is the initial step before moving further with the market research. The market relies on the data gathered. The collected data is first divided into primary and secondary categories. The primary data is collected in the field itself. The secondary data is collected from the already available material on the subject and by rule is always referred to first while doing desk research.
1. Explain with appropriate examples the basic methods of collection of marketing data? Data Collection in Marketing Research is a detailed process in which a planned search for all relevant data is made by researcher. Data collection is an important step in the market research process. It involves gathering information about customers, competitors, and the market to help companies improve existing products and services and launch new products or services, expand into new markets, and create marketing plans. This process can be performed on a large or small scale and can involve both qualitative and quantitative data. By utilizing the Internet, data collection allows for a broad range of consumer feedback on behaviours, perceptions, needs, attitudes, and opinions. Data collection projects range from simple habits and attitudes questionnaires, which gather data from large number of consumers, to complex in-home product testing, which gather in-depth consumer insight. Though data collection by means of the Internet provides a cost-effective approach to market research, at times traditional methods such as focus groups and in-home interviewing can prove to be effective as well. Data collection includes the collection of all the relevant information about the consumers, their taste, needs and preferences. This is the initial step before moving further with the market research. The market relies on the data gathered. The collected data is first divided into primary and secondary categories. The primary data is collected in the field itself. The secondary data is collected from the already available material on the subject and by rule is always referred to first while doing desk research.