The marketing research process is a scientific approach to decision-making that maximizes the chance of getting accurate and meaningful results. The marketing research objective defines the specific information needed to solve the marketing problem and provides insightful decision-making. Obtaining primary data is often the only way of solving a research problem. Various research techniques, including surveys, focus groups, and interviews, can address almost any marketing question.

Mail surveys:

Benefits- low cost, elimination of interviewers and field supervisors, centralized control, and actual or promised anonymity for respondents.

Disadvantages- low response rates. Ergo, the results may not represent the surveyed population. In addition, without an interviewer, there is no one to probe for more information or get clarification on a specific answer.

Focus groups:

Benefits- selects qualified consumers, typically involves audiotaping, videotaping equipment and/or a viewing room with a one-way mirror so that clients can watch the session, lead group discussions using a moderator, an efficient way of learning how products are actually used.

Disadvantages- high cost, time-consuming, may be hard to get honest feedback.

Telephone interviews:

Benefits- cost less than a personal interview, time effective, the federal “Do Not Call” law does not apply to survey research, and the research design can be refined as necessary.

Disadvantages- many people do not answer the phone or simply hang up, body language cannot be observed, costly, and time-consuming.

Observational research:

Benefits- Provides detailed and accurate information, enables businesses to observe potential customers in a natural setting, and researchers can modify their vantage point based on real-time variables.

Disadvantages- Relies on an individual’s perception, little control over the environment, and results may not justify the time and cost investment.

Online questionnaires:

Benefits- low cost, convenient, fast results, and the research design can be refined as necessary.

Disadvantages- no interviewer to gather more information, and because people are often motivated by a reward for taking the survey, there is less accountability or accuracy.

a. To find out the amount of sports nutrition drinks consumed in a city, I would recommend either an online questionnaire or observational research. I would select one of these options because they are relatively low-cost, and in-depth information is not required. Other methods would require much more time and money that would not be justified.

Advantages:

Advantages from Marget Research Contact methods can prove vital to gain intel to improve your product or services.

Telephone – has a control over who participates and is quick in collecting the data.

Mail- it is very inexpensive to conduct

In-Person(depth)- best for in depth detail or feedback, control over who participates, great response rates and can gather information in a timely manner.

Online- inexpensive, data is digital and can be analyses faster, cheap to continue data collection until desired responses have been received.

Focus groups- can get more in-depth information, members can feed off each other to get a better analysis.

Observational- Captures of how consumers use/behave with the product, can provide insight for improvements.

Disadvantages:

Disadvantages from

Telephone- moderately expensive, more people tend to deny phone calls or do not participate, interviewer may affect research due to leading the subject on. Survey cannot be long or else subject will not participate.

Mail- has a low response rate, takes a long time for responses to come back and little control on who participates in the survey.

In-Person(depth)- extremely expensive, interviewer may affect research due to leading the subject and the length of the survey cannot be long.

Online- little control over who participates, greater possibility for self-bias and can’t reach non online users.

Focus Groups- hard to control dynamic of the group, takes a long time, is very expensive, a few numbers of the members dominate the group.

Observational- can vary on price depending on how in-depth. May only capture some types of information.

A) The amount of sports drink that is consumed in a city? The question will vary depending on the size of the city, and the culture of the city can. I imagine a normal US city with the consumers being businessman and women who are limited on time. I would choose an online survey to conduct this research due to time and money to get the best results.

B) why a local bank has been losing customers? For this research I would conduct an in-person(depth) survey. The reason for that is the need for the bank is necessary and products hasn’t changed but consumers are not satisfied. I would need a more personal survey to gather the information required to create a change to get more business. The results I may find could be better customer service to change some policies around for the customer.