Marketing Research Techniques Essay

689 Words Mar 22nd, 2015 3 Pages
After reviewing the video and reading Data Mining: A Competitive Weapon for Banking and Retail Industries; I learned that when marketing research was born – sort of. Since the mid 1890’s marketing research has come a long way; I learned how the company, Burke utilizing a rigid process to collect data for many different consumer research studies (Burke Video, n.d.). They involve web interviews, telephone calls, internet, and meeting with the clients face-to-face. The company redesigned their process and developed a plan to include customer ideas to develop ways to reach customers utilizing a revised type of analytical strategy involving time, frequency, or occasion in one overall process a digital dashboard. This process is similar to …show more content…
In addition, I also learned that marketing research is a valuable tool that has many other data collecting methods for an organization to collect data. Whether the company wants to understand what their customers will purchase or how often they shop, the current market situation or to make great decisions that will benefit the consumers and the company as a whole, they seem to utilize market research to gather those answers. Kotler, and Keller (2014)discusses marketing research as an approach that can be conducted in various ways that involve but are not limited to focus groups, observational (ethnographic), surveys, and questionnaires (p. 101). A digital dashboard is a valuable tool allows data collectors to prioritize collected data and showing the most critical information at a glance (Boost Labs, n. d., para. 2) and it makes the information easy to comprehend. The digital dashboard organizes the current status, historical trends, and key performance indicators of a system; it is similar to an automobiles dashboard that can be custom made to fit any organizations needs. In addition, a digital dashboard is a valuable tool that can be utilized to quickly access and evaluate data at any given moment in time (Boost Labs, n. d.). For example, according to the web blog, the U.S. Census Bureau created the State Comparison Tool Selector Wheel to

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