Market Research- Asking what the customers want. e.g survey, interviews,questionnaires
Primary Research- Research personally found out. e.g questionnaires, surveys, focus group. (FIELD RESEARCH)
Secondary Research- Information that already exists. e.g internet, books. (DESK RESEARCH)
Marketing Mix- 4PS- Place,Price,Promotion,Product. Must be a balance of all 4 to be successful.
What customers want?- High quality, accessible, availability, price, style/design.
What is the market like? - Competition in finding a gap in the market, seeing the available interests.
Advantages and Disadvantages of using Primary Research;
Know what the customers want
Questions could be too open
Takes time and money
Might not be the data needed
People could make deliberate mistakes on some answers
Advantages and Disadvantages of using Secondary Research?
Easy and quick
Not the data needed
out of date information
Can be wrong
Market research affects marketing mix?
I think market research does affect the marketing mix as we need to know what the customers want which can be found using market research; primary and secondary, without the research we wouldn't know how to balance the 4ps from the market research which needs to balanced in order to be successful, we have to find out the price the customers are willing to pay, the product they want, and the places they shop so we know where to sell the product in order for it to be successful. And finding out the research from either primary or secondary sources they would know exactly how to promote the product e,g social media, print, posters, billboards, adverts, teaser trailers. Therefore market research does affect the marketing mix.