Marketing Research Term Paper

Pages: 5 (1487 words)  ·  Bibliography Sources: ≈ 5  ·  File: .docx  ·  Topic: Business

Marketing Research

Secondary Research Use for Research in Motion Strategic Planning

In defining research strategies specifically for Research in Motion (RIM), the senior management team of marketing, market research, product planning and sales would first define what the major challenges and problems the company is facing, and then prioritize them in order of importance and urgency of getting resolved. From this prioritized list, deadlines would next be defined. As this process of prioritizing problems to be research and resolved often have very short time frames for completion, secondary research data is commonly relied on first. The primary reason RIM would first consider primary research is to be able to quickly get the information they need to solve the most urgent business problems. The urgency to get a resolution to the highest priority problems necessitates ROM relying extensively on secondary research sources to get their most immediate and urgent problems resolved.

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In addition to the urgency of solving these most urgent market- and selling-based problems, another factor is the cost. Secondary research is typically less expensive than completing an entire primary research study. In addition, publishers of secondary research, especially in the high tech industry, are very focused on customer service and often provide custom cuts of the data used to generate the reports for a small fee. The goal of these publishers is to gain more customers, and with RIM being so dominant in its market arena, secondary research publishers would welcome the opportunity to sell them additional reports.

Term Paper on Marketing Research Assignment

A third factor that favors RIM using extensive secondary research is the potential to benchmark their own marketing, sales, product development and services efforts in the future based on the figures that secondary research publishers rely on to produce their reports. For example, Gartner Group, one of the leading industry analyst firms in the telecommunications sector, has a subsidiary named Dataquest, which primarily focuses on shipments and market share figures. By using the secondary data from Gartner/Dataquest, RIM can create a specific set of benchmarks in terms of their market share relative to industry leaders, and also perform extensive analysis of how their strategies are delivering increased sales relative to competitors. In addition, there is the company International Data Corporation (IDC), which also specializes in market share information specifically for the telecommunications marketplace, and their figures are considered to be the most authoritative in the area of market sizing. By using both sources, Gartner/Dataquest and IDC, RIM will be able to intermediate the total available market for their next generation devices, and also be able to troubleshoot where and how their marketing strategies are being effective at increasing market share or not.

In summary, secondary research is highly effective with time constraints, cost constraints, and the needs for unbiased measures of performance are required to benchmark the performance of one company against another. Very often companies such as RIM in fast-moving markets do not have enough time to complete a primary research project, and therefore must rely on secondary data to assist in solving their business and marketing challenges.

Primary Research: Vancouver, BC Bakery and Party Shop Analysis

In the development of a new business, it is critical to understand the customers' preferences, needs, wants, in addition to their perception of the proposed new business and its potential value to them as consumers. In short, primary research is critical for finding out just what is the most important to new prospects for a new business that defies any previous traditional categories. In the development of a business plan and the eventual launch of a bakery and party shop in Vancouver, British Columbia, the proposed bakery and store needs to create its own highly unique, highly differentiated position in the local marketplace. Instead of relying on trial-and-error to define its unique value proposition, the stores' founders need to test not only the concept itself, but also the messaging and unique value that potential customers will receive from the store. In addition to defining the unique value proposition, it is critical for the founders to also understand relative market positioning in terms of price, quality level, and the potential for expanding into smaller but highly profitable markets including ethnic foods as well. To validate the store concept, its unique value proposition, and also define the store's market positioning, primary research is critical for the launch of the business to be successful.

The strategic factors of validating the store concept, unique value proposition and market position also… [END OF PREVIEW] . . . READ MORE

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APA Style

Marketing Research.  (2007, October 17).  Retrieved June 3, 2020, from https://www.essaytown.com/subjects/paper/marketing-research-secondary/190686

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"Marketing Research."  17 October 2007.  Web.  3 June 2020. <https://www.essaytown.com/subjects/paper/marketing-research-secondary/190686>.

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"Marketing Research."  Essaytown.com.  October 17, 2007.  Accessed June 3, 2020.
https://www.essaytown.com/subjects/paper/marketing-research-secondary/190686.