Comprehensive Study on Marketing Research and Database Management

The paper explores the purpose and significance of market research in aligning business strategies with marketing concepts. It emphasizes the criticality of defining a clear research problem involving relevant stakeholders. The document discusses leveraging data mining to enhance internal database management systems, highlighting its role in optimizing resources and ensuring data security. Secondary data is preferred over primary due to cost-effectiveness and foundational knowledge it provides, crucial for informed decision-making. Finally, the paper evaluates the efficiency of company web pages using specific criteria and offers recommendations for improvement, focusing on user experience and information clarity.

Running head: MARKETING RESEARCH
Marketing Research
Name of the Student
Name of the University
Author’s note

1MARKETING RESEARCH
What is the purpose of your marketing research and explain the relationship between marketing
research and the marketing concept.
Market research is the process of analysis with the help of research tools to gather
specific information and insight about an organization or institution regarding a particular topic.
This research can be upon any stakeholders of the business organization. The requirements and
the importance of the market research changes depending upon the scale of operation of a
business organization. A company conducts a market research in order to keep a check on the
organization that it is in sync with the marketing concepts and strategies that the company had
agreed to follow. The purpose of market research changes with the nature and scale of the
business and the requirement of the organization based on the challenges and issues faced.
Marketing research is the process by which information about the marketing concepts are
gathered by a business organization. For example: SWOT analysis is a marketing concept which
discusses about the strength, weakness, opportunity and threat of the company, where as a
market research collects the information regarding this topic. By using the instruments of market
research the company will find out what is their strength, what are the weaknesses that it has
overcome and how. It also will help the organization find out about the opportunities it has and
the competition that is in the market (Babin & Zikmund, 2015).

2MARKETING RESEARCH
Define the research problem as one of the most critical steps in the research process. Who should
be involved in this process?
A market research follows a definite path and methodology which has to be incorporated
in order to maintain an organized and strategic flow of information gathering and analysis. The
problem statement comes at the beginning of a research report. A problem statement is a distinct
and comprehensive expression about the area of concern that is being projected in the research
study. It is based on a situation that is becoming an issue or an issue which has to find a solution.
It must have a meaningful understanding of an idea or a title that the researcher is working upon
so that deliberate investigation about it can be carried out by the researcher. It does not contain
anything that says how a problem can be solved rather it is a statement that a problem exists, it is
one of the crucial steps because it give a direction to the researcher to work towards finding a
solution or investigating about the root cause of the problem. The topic of research has a subject
which is concerned with a particular issue and the people or the factors that are associated with
the topic are involved in the process of developing a problem statement (Casalicchio, 2016).

3MARKETING RESEARCH
How would you use data mining and secure the success of internal database management
system?
With the help of data mining a business organization can collect information that is
relevant about the customers and other stakeholders of the company and create more effective
organized plans and policies associated with several business operations and in turn utilize the
resources to the optimum and high efficiency. It is basically gathering raw unorganized data and
organizing them so that the company can use that information so that the company can benefit. It
could be used to create sample size and also recognize the population of the research that is
being undertaken. In order to recognize and distinguish in between customers and to keep a track
of the purchase behavior can be efficiently done by Internal marketing databases. The kinds of
information that can be found in the internal database of the company is the demographics,
names, addresses, telephone numbers, age, income, family members names and ages, and
preferences, and also the purchase history of a particular consumer. This information is valuable
to both the company as well as the customers. Hence it is very important to secure the database
management in order to prevent leakage of information. Data mining software ensures that the
information that is collected is safe and only the company official in case of a research or
analysis (Witten et al., 2016).

4MARKETING RESEARCH
Why secondary data is often preferred over primary data and explain the secondary data research
that you will focus on the company of your choice?
Data is of two kinds: qualitative data and quantitative data, the process of collection of
data is also of two kinds one is the secondary research and primary research. Secondary research
is the process by which a researcher gathers information about the relative topic form the
previous work of other authors or research organizations. It is gathering the data and using to
form a base for the primary research that the researcher is going to conduct after analyzing this
data. Primary research data is the new information that the researcher will collect to support the
hypothesis that he or she has created. There are several tools which help a researcher in gathering
information. Secondary data is more preferred than primary data because the secondary data that
is collected by the researcher is based o the works that are previously done by authors and
requires the researcher to go through the concepts related to the topic and hence gives the
researcher a good in depth knowledge about the topic of research. For a research to be successful
specific in-depth and insightful knowledge of the researcher is very essential. It builds a better
understanding of the topic for the researcher and makes the analysis process easy and rational.
Another reason why it is preferred is that it is less expensive than primary data collection.
Internal data base regarding the various stakeholder of the company is the best source to gather
secondary data. For example: if the research topic is the factors effecting the employee turnover
of Scotia Bank Canada then the secondary research can be gathered from the database that is
already present regarding the reason of resigning from the organization over a period of time.
This is gives the research an idea about the problem area of the company and why the employee
turnover of the company is high (Orkin, 2014).

5MARKETING RESEARCH
Evaluate the efficiency of company web page? What criteria would you use? What
recommendation would you provide for improvement?
A company’s webpage acts like a company’s profile where the products and the services
offered by the company are laid down in details for all the stakeholders of the company. And for
a financial institution like Scotia Bank Canada it is very essential to have a web presence as
many of the banking facilities are also available in the company website. Anyone who is
interested in the institution can visit the web page and gather information. Nowadays both
customers and employee research about the company before sitting for an interview or availing
the product or service as it gives trust and builds reliability especially for a financial institution.
A web page of a company must have a section that details about that Company’s history and the
owners of the organization. The home page of the website of Scotia Bank Canada is cluttered
with too much information, too much information at once can be a little confusing for the people
visiting the site. Hence it should be replaced with info graphics Tamimi & Sebastianelli, 2015).

6MARKETING RESEARCH
Reference list:
Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. Cengage Learning.
Casalicchio, E. (2016). Autonomic orchestration of containers: Problem definition and research
challenges. In 10th EAI International Conference on Performance Evaluation
Methodologies and Tools. EAI.
Orkin, K. (2014). Data Collection Methods. In Encyclopedia of Quality of Life and Well-Being
Research (pp. 1430-1432). Springer Netherlands.
Tamimi, N., & Sebastianelli, R. (2015). The relative importance of e-tailer website attributes on
the likelihood of online purchase. Internet Research, 25(2), 169-183.
Witten, I. H., Frank, E., Hall, M. A., & Pal, C. J. (2016). Data Mining: Practical machine
learning tools and techniques. Morgan Kaufmann.