Question

Discuss the primary information collection methods that can be used by the young marketer to conduct this research

Answer 1

There are various ways in which the company collects the primary data for their research. They are as discussed below:

Qualitative methodology: This method includes the research to be done in specific market and specific segments people and the decision does not apply to whole population.These study is done by in depth interviews, focus groups etc.

Ex - A company want to launch Sports shoes in the market which used for running. In this case company will research and collect data which is associated with athlete's or the youngsters which are more health conscious and thus it will not applicable for whole population.

Quantitative methodology: It refers to the research technique in which the whole population is considered for the research and this is generally to get the data for the whole population. More numbers of respondent's are included in this study to get the conclusion which is for the whole population.For this study questionnaires,preference scaling are used.

Ethnographic studies:This refers to the data collection and analysis which is collected at one time and thus can be analyzed further to get the common conclusion on the the specific group of respondent's.

Ex: Using Customer purchase preferences by analyzing the computer cookies and thus get the idea about the customer preferences

Experimental method: In this method a real and experimental environment is created in which the customers or respondent's are invited for and allowed to get indulged in the experimental environment without priorly informing the respondent and thus their actions and behaviour were noticed,analyzed and various data were collected.Data is mainly collected through test markets and purchase laboratories.