Research Methodologies

Essay by gophergirlUniversity, Bachelor'sA+, June 2008

download word file, 4 pages 4.3

Marketing research may be defined as the collection and analysis of information that supports marketing decision making, which is then communicated to management. Marketing research can be interesting and is also perhaps one of the single most important aspects of marketing. XYZ, Inc. is looking to move into the international market and the country of Bulgaria in particular. The purpose of this paper is to look marketing research technologies for Bulgaria and select those that will be the most beneficial. In addition, this paper will look to identify additional resources that XYZ, Inc. can use to create a successful marketing campaign in Bulgaria.

"Survey research, interviews, consumer panels, observation, and focus groups are some of the tools used to collect primary market data" (Keegan & Green, 2005, pg. 209). All of the methodologies collect either quantitative or qualitative data. Quantitative research asks questions such as how much a person would buy.

It is numerically oriented, and requires considerable attention to measurements of market changes. The point is that every participant is asked the same series of questions, is very structured, and often engages a large number of interviews and questionnaires. Qualitative research seeks to understand how and why things are as they are, such as why a person would buy something. This type of research is mostly conducted on a face-to-face basis, and can include group discussions or focus groups.

The first method to look at for XYZ, Inc, in Bulgaria is that of focus groups, which are considered by some to be the most important qualitative marketing research method. The reason it will be good for XYZ, Inc. is that it allows the company to understand new product development and market potential for new products in Bulgaria. It will allow XYZ, Inc. to gain potential...