List and discuss the three basic research designs (types of marketing research).

Question

List and discuss the three basic research designs (types of marketing research).

Research an organization of any kind (profit, not-for-profit, charity, small/large etc.) that you think will find any one of those types of marketing research helpful. Discuss how the organization would utilize any specific type of marketing research to make marketing decisions (exploratory, descriptive, or causal). Ensure you have sufficient publicly available information about the organization in order to answer this question.

Provide at least one citation (and use quotes for any direct quotes from any source – including the textbook or any websites used).

Explanation / Answer

Answer:

The basic three marketing research designs are:

Exploratory : exploratory research is an basic idea to explore the market to identity the problem or topic of research and develop hypothesis for conducting research. Through it we gather general information about the problem or topic of research. It is used in the initial stage of the market plan to explore the new ideas, innovations and concepts etc.

Descriptive research: it explores the problems or topics to identify the characteristics of the targeted group or study area. It helps in finding correlation between two variables. The descriptive research is majorly used in marketing sector by companies to analyse the market conditions and performance of their products.

Causal research: it finds the cause and effect relationship between variables. It is used for testing the hypothesis and finding the causes and effects of the developed research. With the help of causal research we can deeply analyse the problem and if effects. Companies use it to find the issues in the target market about their products and what went wrong if demand for their products decreases.

The organizations of any kind (profit, not-for-profit, charity, small/large etc.) will find these marketing researches helpful because these researches can be used by any organization to explore or find the working of their organization or products in the market and their reach to the target groups in the market.

A company who is selling any product in the market can use descriptive research to find the performance of their products in the market and the reach of the products to the targeted groups and if demand for their products is decreasing than it can use causal research to find the causes of this rejection. They can apply new ideas to increase demand for their products and can analyse the effects.

A new organization either profit motivated or not will use exploratory research to analyse the market conditions and will identify the new innovative ideas and concepts to make their market plans for reaching people effectively.

*sorry it is not allowed to provide citation so have not mentioned any organization name and I have generally explained.

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