Marketing Research Tools Paper wk 3 Essay Example | Topics and Well Written Essays - 1000 words

Marketing investigate Tools Paper wk 3 - Essay ExampleOn the other hand, seek aras having ample and reliable selective information available require use of information extracted from secondary sources. According to record of sources and research methodology, different tools argon selected and used by researchers. All these tools have their own use, advantages and disadvantages. Therefore, it is important for researchers to ensure that research tools are selected that are suitable for the nature of research approach i.e. primary and secondary and research methodologies i.e. quantitative and qualitative. Primary research itself consists of entropy collection from original resources. Primary research can employ qualitative and quantitative research methodologies and there are various tools that can be used for this research approach. Usual tools used for this research includes surveys, interviews, transport observations, experimentations, and focus groups. These tools sponsor i n collecting data that is specific to the needs of researcher. Furthermore, researchers can bill necessary controls on the research process to maintain the integrity of data collected and using it fitly for the purpose of research (Baker, 2012). Hence, it is possible for researchers to ensure that data collected is valid and trustworthy along with existence authentic and reliable. These research tools are usually time and cost consuming however due to direct relevance to the research purpose, it is preferred for areas of research that have not been explored earlier or to corroborate with living studies (Onkvisit & Shaw, 2008). As far as secondary research is concerned, it is use of data that is already available from living sources. The tools available for secondary research include information available on the internet, market research conducted by government and individual market research firms, data available on firms websites and stock exchange, information from unexclusive and private agencies, personal records and published affect sources (peer-reviewed papers, books and journals) (Baker, 2012). While using secondary data, it is important to ensure that the data is appropriate for the purpose of research. Relevance of data in terms of time period is another major issue that researchers need to take care of. However, sometimes use of secondary data is beneficial as it is readily available and relatively cheap (as the original research expenses have been already incurred). While perform primary and secondary research, quantitative and qualitative research methodologies can be used depending on the nature of research. While selecting a research methodology, the purpose of research and type of information required for the research is mulish which further shapes the nature of research. In quantitative research, the usual tools used for primary research are surveys, pecuniary figures produced by the entities themselves, experiments and numerical read ings produced by them, statistical modeling and examination through stratification and segmentation (Onkvisit & Shaw, 2008). These tools help in acquiring first hand information which is reliable, valid and objective yet expensive to acquire. For quantitative research to be performed through secondary sources, the tools used can be numeric modeling and statistical analysis. These tools are used to perform correlational analysis of data already available through print and electronic sources. Example of it can be examination of industry performance by performing statistical examination of market