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Hope you enjoyed the day off lads x

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From today's lesson I have learned that there are many ways of collecting data such as, face-to-face interviews, personal interviews, telephones surveys, postal surveys and online surveys. We learned the differences between primary data and secondary data. We also learned that there are two types of secondary data: internal and external.

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'Information is the principal resource used by a marketer, and decisions can be only as good as the information used.'
From today's class I have learned he proper collection of data is central to any information system and high quality marketing decisions will usually arise from the quality of information that informs these decisions. The elements of the marketing information system are internal records, marketing intelligence, information analysis & marketing research.

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Today I learnt the process involved in market research and its importance in a business. i also learnt the elements of the marketing information system which are internal records, marketing intelligence, information analysis and marketing research.
i have also learnt about the different ways of collecting data such as surveys, face to face interviews and focus groups.

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I have learned that marketing is vital to the product life cycle. It is used to research and predict how a product will react with the market and also to better improve and the product to suit the market and extend the product life cycle. Market research can be primary or secondary. Primary research is research that is found by the person researching the market. Secondary research is the use of previous research done before the project has began.
Types of market research include:

Postal Surveys

Online surveys

Interviews

Focus Groups

Telephone Survey

Loyalty Cards

In my opinion the most popular market research in recent times would be Online Surveys, I think this is because companies offer incentives to complete the survey such as the entering into a draw or also offering vouchers for discounts in store.
Another popular form of market research is is Loyalty Cards, This is a popular method of market research because shops and businesses can track the spending of consumers and then customise the way they interact with them e.g. Someone buys a product regularly the shop would track that and most likely send the customer a voucher for that product as incentive for them to keep buying the product.

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i have learned that there are a number of different way to conduct market research. Primary research is new data that you have gone out and gathered yourself while secondary research is research gathered by someone else, for example info gathered off the internet. Market research is obtained by companies for a number of different reasons in a number of different ways. Companies collect data for a number of different reasons such as finding out if their is a gap in the market for a certain product or getting peoples opinions on a product that is already in place. Companies put a lot of effort and time into market research as 'information is the principal resource used by a marketer, and decisions can only be as goo as the information provided'

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I have learned of the vital importance of market research in companies and how it is the study of investigating what the customers want and what there is a demand for in the current markets. I have also learned that there is many different stages to market research and different types from surveys to face-to-face interviews. I have also learned about the product life cycle and how vital that is to companies so they have an idea of how their products are doing in the markets and if they should invest more into the products or pull the product out of the market. I have also learned about the SWOT analysis , which is how companies look at their strengths,weaknesses, opportunities and threats.

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I have learned the importance of marketing and that it is the the gathering of information. Marketing is used by businesses to gather information in order to provide a good product for their target audience. There are two types of research in marketing primary and secondary research. Primary data consists of facts and figures , newly collected , observational data and questionnaire data.Secondary data includes facts and figures recorded beforehand and internal and external data. I have also learned the importance of the product life cycle to a product it shows the development stage of a product ,the peak and decline.

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I have learned that the product life cycle is key to the development of a product in order to track it's popularity and demand on the market.
The role of marketing is to discover what people need and want and a company producing those goods to fulfil the needs of the consumer, using an appropriate set of marketing techniques to do so.
The Ansoff Matrix allows a company to identify the 4 key areas of marketing
1-market penetration
2-product development
3-market development
4-total diversification
Market information is separated into 2 different headings, Primary and Secondary.
Primary is first hand information which can be recieved through questionnaire data.
Secondary is an already existing piece of information which can be used for the project at hand.

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from my studying of the topic marketing i have learned the importance of market research within a company it is the principal resource used by the marketer and decisions can only be as good as the information used.
marketers must collect a range of data and information so it can be used in marketing decisions for the companies marketing methods. gathering information offers a company a foundation on which it can adjust to the changing environment in which it operates.
MIS(marketing information system) allowed a firm of market researchers create their own system for processing the finormation for use by their marketing managers. A firm needs to co-ordinate the information it collects from a variety of sources into a marketing information system.
the system is a organised set of procedures and methods by which pertinent, timely and accurate information is continually gathered, sorted, analysed, evaluated, stored and distirbuted

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Market research is the activity of gathering information about the needs and preferences.It can be used by businesses to gather information relating to a new product that they wish to introduce on to the market or perhaps to expand on an existing product.There are many forms of market research and some are more effective than others.Forms of market research include questionnaires,online surveys,focus groups,personal interviews,postal surveys and many more.Market research is vital in the sense that it allows businesses to analyse the market better with the help of a more accurate SWOT(Strengths,Weaknesses,Opportunities & Threats) analysis.Market research is a vital factor in a businesses success.#loveit

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I have learned that marketing refers to the steps taken in order to promote and sell a product or service. Market research is the process of gathering information  in order to sell of a good or service most efficiently. Market research is separated into two segments: primary and secondary. Primary research refers to newly collected data which can be obtained via observational data or questionnaire data. Secondary information refers to facts and information which has already existed previous to the project. The information gathered from market research helps entrepreneurs make wise and profitable business decisions. For example, if a company did not carry out market research, they make waste valuable time and money investing in a product which there will be no market for, therefore market research is crucial. Market research can be taken from sources such as internal existing records to online surveys or questionnaires

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i have learned the different types market research such as to develop through different stages such as developing the research plan, learning about observations and surveys as methods of gathering market research along with the various types of ways we can interact with others to do this examples including: Personal, face-to-face, personal and postal to name just a few than also learning of how the online survey is conducted, along with the advantages and disadvantages and ways to filter through these so as to lessen bias, cheating or spam that would otherwise screw the survey in a direction different from the intended course it is intended to take

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What i have learned from marketing today is that before the research begins the manager and the researcher must agree on the nature of any of the marketing problems or opportunity. I have also learned from today's lesson is there is a lot of research involved inside the marketing community. And that there is a five different categories steps on marketing research that makes marketing research process the five categorises are ( Define the problem and research objectives, Develop the research plan, Data collection, Data analysis and Presentation of report and recommendations ) these's five categorises of marketing research very easy to understand and study.

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From today's lectures i learnt the marketing research process and the various stages involved in building up a research. we first start with defining the problems and objectives of the research, then we develop the research plan , we then go further to collect data from various places (primary sources and secondary sources), therefore we analyse the data we collected, and finally we present a report and give a recommendation about it. the we went further to look at various ways in which surveys can be done , we explored them one by one and looked at the disadvantages  and advantages. To be able to achieve a great result we have to adopt the right data collection method and avoid scams and frauds.

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I have learned you need to have the proper collection of data. The quality of marketing decisions is dependant on the information that informs those decisions. You can collect your data from a wide range of target markets. Many firms design their own systems of processing the data such as a marketing information system. These include, internal records, marketing intelligence, information analysis and marketing research. Research findings are essential to planning and developing market strategies. Market research arises when an organisation needs specific details about a target market or when a new product is not achieving expected market share.  With market research you need to have your research objectives. This consists of the desired information to solve the marketing problem. They must be specific and limited in number. A dependent variable is a variable expected to be predicted or explained and independent variable is a variable in the experiment that the researcher can manipulate or change to some extent. Market research involves both primary data which is original sources of data. Secondary data consists of information that have already been collected for another purpose.