M2- Explain the limitations of marketing researchused to contribute to the development of a
selectedorganisation’s marketing plans
D2- Make justified recommendations for improving the validity of the marketing research used to
contribute to the development of a selected organisation’s marketing plans.
In this task, I will be explaining the limitations of marketing research used to contribute to the
development of a selected organisation’s marketing plans. I will also be making justified
recommendations for improving the validity of the marketing research used to contribute to the
development of a selected organisation’s marketing plans.
Market research is the process in which a business must gather,analyse and interpret information
about a specific market,product or service which is going to be up for sales in the market. It also
means to find out information about the past,present and potential customers for a product/service.
Market research also provides data to the business to allow them to solve any marketing challenges
that they may face during the planning of the business process.
http://www.investopedia.com/terms/m/market-research.asp
There are two methods of market research that any business can conduct and they are:
Primary Research
Secondary Research
Primary Research
Primary Research is the research that is conducted by the business themselves and the information
comes from surveys,questionnaires and focus groups. It is first hand data and it is up to date as it is
done there and then and this information is also new as this research has not yet been conducted
yet by the business and they haven’t looked through other outside sources for the information.
There are many advantages of conducting Primary Research. The first advantage would be that it is
recent compared to secondary research and secondary research may not be specific to the business
and the customers that they are targeting. Primary Research is much more accurate and it is data
which is very useful to any business.
Another advantage of Primary Research would be that the business has full control of the primary
research process and the business can get whatever information they want as they are going to be
going out to get this data through surveys, questionnaires and focus groups whereas with Secondary
research, the research has already been done and sometimes the business may not get as much
information from the data as they wanted to.
Another advantage of Primary Research would be that the business would be the owners of the
information that they have collected so they don’t have to upload this information that they have
gathered onto outside sources for the competitors or other businesses to use which gives the
business an advantage as their competitors would have to either conduct their own Primary
research or look at different sources for secondary research which has already been done by
someone else which could be false, inaccurate or out of date.
selectedorganisation’s marketing plans
D2- Make justified recommendations for improving the validity of the marketing research used to
contribute to the development of a selected organisation’s marketing plans.
In this task, I will be explaining the limitations of marketing research used to contribute to the
development of a selected organisation’s marketing plans. I will also be making justified
recommendations for improving the validity of the marketing research used to contribute to the
development of a selected organisation’s marketing plans.
Market research is the process in which a business must gather,analyse and interpret information
about a specific market,product or service which is going to be up for sales in the market. It also
means to find out information about the past,present and potential customers for a product/service.
Market research also provides data to the business to allow them to solve any marketing challenges
that they may face during the planning of the business process.
http://www.investopedia.com/terms/m/market-research.asp
There are two methods of market research that any business can conduct and they are:
Primary Research
Secondary Research
Primary Research
Primary Research is the research that is conducted by the business themselves and the information
comes from surveys,questionnaires and focus groups. It is first hand data and it is up to date as it is
done there and then and this information is also new as this research has not yet been conducted
yet by the business and they haven’t looked through other outside sources for the information.
There are many advantages of conducting Primary Research. The first advantage would be that it is
recent compared to secondary research and secondary research may not be specific to the business
and the customers that they are targeting. Primary Research is much more accurate and it is data
which is very useful to any business.
Another advantage of Primary Research would be that the business has full control of the primary
research process and the business can get whatever information they want as they are going to be
going out to get this data through surveys, questionnaires and focus groups whereas with Secondary
research, the research has already been done and sometimes the business may not get as much
information from the data as they wanted to.
Another advantage of Primary Research would be that the business would be the owners of the
information that they have collected so they don’t have to upload this information that they have
gathered onto outside sources for the competitors or other businesses to use which gives the
business an advantage as their competitors would have to either conduct their own Primary
research or look at different sources for secondary research which has already been done by
someone else which could be false, inaccurate or out of date.
