Marketing Research Sources and Approaches

Name: Marketing Research Sources and Approaches
Author: Bob Badowski

Discover the basics of marketing research.

Preview the first lesson free — get full access to all 6 lessons.

Course: On-Demand

(upbeat music) Welcome to Marketing Research Sources and Approaches. In these lessons, you'll learn how marketing research is a large part of the success of your business. You'll also discover various facets of marketing research including different approaches and sources. As any business owner will tell you, marketing research is an integral part of running a company. Whether or not they realize it, business owners are constantly conducting marketing research. There are many types of marketing research and numerous ways to conduct that research. Business owners can benefit from understanding a variety of these research methods. Known by many to be a proponent of advertising and a pioneer in marketing, the famous retailer John Wanamaker said half the money I spend on advertising is wasted. The trouble is, I don't know which half. There's always uncertainty in business but how can you reduce the level of uncertainty you have with any advertising or marketing strategy? A solid marketing research process can help with that. If a business owner wants to be successful, understanding that marketing research is an integral part can be a big contributor. When many people think of marketing research, they think of big data and algorithms that predict customer behavior. And that is largely correct, but on a micro level, all data that's collected from any source can be used in marketing research. Like any research, marketing research has the following goals, defining the problem. What marketing questions are you asking? Before you start to conduct any research, it's best to understand what you're looking for. Once you've determined what you're trying to figure out then you can begin to collect relevant data. Developing a research design. It's best to determine what methods you can use to successfully collect information. Collecting data. Some ways to collect data include surveys, interviews, focus groups, or from secondary sources. Analyzing the data. Once you have the data that you need you can determine the best way to analyze this data. Is the data quantitative? Should you perform a statistical analysis on it or is the data qualitative where you have to extract what your customers or focus groups told you? Making decisions. The goal of data collection is to be able to make informed business decisions based on the data that you've collected and analyzed. If you've done your due diligence in the collection and analysis, these findings can lead you to smart marketing recommendations. Reflecting on the decisions. Once a marketing strategy is put into place based on the data you've collected, it's best to reflect on the decisions that were made in order to analyze your plan's level of success.

Beginner Provider : Bob Badowski 6 Lessons · 17m in Arabic, German, English, Spanish, French, Portuguese, Urdu, Chinese

Course Description

Delving into marketing research for the first time can be a daunting experience. There are so many ways one can conduct efficient and effective research that it’s often challenging to determine the value each one can bring to your company’s research goals. That’s not to mention the difficulty of recognizing the various types.

In KnowledgeCity’s Marketing Research Sources and Approaches course, you will discover the value of marketing research to your company’s various goals. You’ll also get an introduction to the differences between qualitative and quantitative research and what they can bring to your company’s decision-making process and success. You’ll learn where you can find sources to conduct marketing research and the importance of finding credible ones, whether they be primary or secondary research. By equipping yourself with knowledge from this course, you can become comfortable with the process and the different methods with ease.

What You'll Learn

Recognize the importance and value of marketing research to your company's goals
Identify the sources where you can conduct marketing research
Differentiate between primary and secondary research
Define the limits of qualitative and quantitative research
Determine the best methodologies to conduct marketing research
Evaluate the importance of finding credible research sources

Key Takeaways

Marketing research brings value to a company's various goals and decision-making process.
Qualitative and quantitative research each contribute differently to a company's decision-making and success, and each has its own limits.
Research sources can be either primary or secondary, and finding credible ones is important.
Understanding the different sources and methodologies helps you conduct efficient and effective marketing research with ease.

Frequently Asked Questions

Who is this course for?

It is suited to those delving into marketing research for the first time, helping them become comfortable with the process and the different methods.

What does this course cover?

It covers the importance of marketing research, sources of marketing research, primary and secondary research, and qualitative and quantitative approaches.

What will I learn about research types?

You'll get an introduction to the differences between qualitative and quantitative research, and learn to differentiate between primary and secondary research.

Does the course address finding research sources?

Yes. It teaches where you can find sources to conduct marketing research and the importance of finding credible ones, whether primary or secondary.

Is there a way to check my understanding?

Yes. The course includes a Test Your Knowledge lesson.