Marketing Research Essay Example | Topics and Well Written Essays - 1000 words - 2

Marketing Research - Essay Example Because of this influence, the demand for such products increases manifold and the retailers can benefit from enhanced volumes of sales. They may also become capable of assessing the market trends and can offer valuable feedback to supplier and manufactures to modify or amend their marketing strategies. Thus it can be stated that endorsement by celebrities can have a strong impact on products and create a healthy demand that in turn will raise sales volumes resulting in increased profits for the retailers. â€Å"Celebrity marketing is also a valuable way to build instant name recognition, attaching yourself to a person who is well-known to achieve awareness that otherwise might have taken years of marketing.†1 Marketing Research is a scientific search for information especially in the areas related to functions of marketing. Marketing research as a separate department can be a source of valuable help to management’s decision making process. Today, the dynamic markets require numerous middlemen between producer and consumer. Each middleman provides flow of communication regarding consumer needs and dealer needs to the manufacturer. To evaluate and understand the size and specialization within the business unit and to determine the intervention of numerous middlemen between producer and consumer a company needs proper marketing research. In this context marketing research plays a very important role in the modern marketing system. Accurate information is a core factor in successful marketing research. There are two types of methods employed in data collection: primary data collection and secondary data collection. Primary data collection is facilitated by collecting information direc tly from the source. There are many tools used like observation, direct interview, telephone interview, mail survey, projective technique, etc used in primary data collection. Interview is