Marketing Research Essay Example | Topics and Well Written Essays - 1500 words

Marketing Research - search ExampleFor ordinary research, the paradox exposition is comprised of a description of the background situation and the statement of the paradox. In the context of market research, particularly in the case of applied market research in a practical setting, chore definition refers to an entirely different process. According to Malhotra (1996), Problem definition involves stating the general enigma and identifying the specific components of the market research problem. Only when the marketing research problem has been clearly defined keister research be designed and conducted (p. 47). Gibson (1998) stated that Problem definition is best thought of as issue definition the selection of a domain likely to be rich in ideas to solve the problem (p. 5). Most recently, Wild & Diggines (2010) said that Problem definition is the most important step in a research projectoften more important than its solution (p. 42). As may be deduced, thither is no one hard and fast definition of problem definition in market research, leave off the stress on its importance to effect a solution, and from this therefore it must be said that problem definition should result in an actionable research plan. Malhotra (2011) provides the following diagram and example of a marketing research problem defined Source Malhotra (2011, p. ... etermining the various needs of automobile users and the extent to which current harvest offerings were satisfying those needs. Note that the broad statement includes the target of the research (i.e., automobile users), the object of research (their needs), and the hooked of research (the extent to which the needs were satisfied). To complete the problem definition, the specific components are as follows Component 1 What needs do buyers of passenger cars, station wagons, and sports utility vehicles seek to satisfy? Component 2 How healthy do existing automobile product offerings meet these needs? Component 3 Is there a segm ent of the automobile market whose needs are not being adequately met? Component 4 What automobile features does the segment identified in number 3 desire? Component 5 What is the demographic and psychographic profile of the identified segment? (Malhotra, 2011, 2-17 to 2-18). The problem definition should be neither too wide that the problem becomes vague, nor too narrow that important considerations are left out. A well formulated problem definition should be able to answer the following basic questions (Zikmund & Babin, 2006, p. 122) What is the purpose of the study? How much is already cognise? Is additional background information necessary? What is to be measured? How? Can the data be make available? Should research be conducted? Can a hypothesis be formulated? As to return matter, Emanuel H. Demby, formerly of MPI Marketing Research Inc in New York (in Marketing News, 1975, p. 8), marketing problems may be classified advertisement into four, namely Market targets understand ing the who and why of the potential consumer Product positioning critical benefits that will take a leak a strong edge in the target market Decision-making process should