Marketing Essay Example | Topics and Well Written Essays - 500 words - 76

Marketing - Essay Example Market research also enables firms that are new to gain a competitive edge over the more established firms. For instance, when Sprite was launched in Ireland, it struggled to get a market share of the beverage company however, after proper research they discovered that if they branded it more as a cool drink that they would be more popular. With proper rebranding, sprite was able to sell double the expected number of bottles and even launch the 2-litre bottle ahead of time. (Parasuraman, Dhruv & Ramayya, 2007) A primary research study is a study that has not been done before involving the first set of data to be recorded relating to the study. Using clothes selection as my choice to conduct research in, to select a sample frame I would take into consideration the target group of my product. The consumers would have to be divided according to age, gender marital status and number of children. The volume and nature of data required would be taken in to consideration whether it is quantitative or qualitative (Wild and Diggines, 2009). With qualitative data only a small niche of the market is targeted as compared with quantitative data, however, quantitative data requires less expertise and would be preferable for primary data to get data over the entire market. In selecting the sample, data collection method cost must be considered as well as the main purpose of the research and the period for conducting the research to be done (Wild and Diggines, 2009). The survey method of data collection is the least credible since high number of surveys are not returned when sent via the postal method and there is always the risk that the respondents who did reply are of a particular demography that relates to the survey meaning that their responses will be overrepresented in the data collection. This is because there is no interaction between the respondent and surveyor, this method is not suitable for qualitative study (Gupta, 2003). However, the main advantage of the