question archive Question no 1) What constitutes a good marketing research explain briefly so i can understand properly question no 2

Question no 1) What constitutes a good marketing research explain briefly so i can understand properly question no 2

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Question no 1) What constitutes a good marketing research explain briefly so i can understand properly question no 2. What is Maslow's Hierarchy of Needs and How it can help us in understanding consumers' decision making process? question no 3. What is customer satisfaction and How is it measured?

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Proper marketing research is important in analyzing data theta is unique to a market situation affecting a particular business.

Step-by-step explanation

Good marketing research comprises of finding out the problem and the objectives that the research hopes to meet. The objectives have to be explained and described. For example, a business may research on the attitudes of the customers they hope to sell their goods to. The other step involves setting up a research plan which will aid in the collection of information on the subject matter. The researcher plan ought to be comprehensible as it includes the problem, research objectives and how the outcomes will help in decision making and formulating the budget. The other research strategy includes implementing the plan by collecting both qualitative and quantitative data on the subject. Such methods may include field survey or online research among others. The research team then has to analyze the data collected and make conclusions from the finding. Maslow's Hierarchy of needs is a theory that uses a five-tier model developed to explain human needs. It states that people need to satisfy the needs on the lower level before progressing to meet higher developmental needs. This model helps consumers to understand that they should purchase items that best suit their requirements. Once that need is satisfied, the consumer should move to a requirement at a higher level which motivates the individual more. Customer satisfaction is the measure that shows how content and happy customers are with a product. It provides producers with information that may help them improve their products. Customer satisfaction is measured using the customer satisfaction score. This is done in a survey form where the customer is asked basic questions on their experience with the business or product. The scale has metrics such as satisfactory, unsatisfactory among others. The other means for measuring customer satisfaction is the Net Promoter Score which involves dividing respondents into three distinct groups to rate the products and services. Customer satisfaction survey is also conducted to determine the customers' experiences. It involves asking direct questions to the consumers. The Customer Effort Score is a form of measurement that asks the customer questions like how hard they have worked to access the specific product or service. The scale ranges from 1 to 5 with choices such as hard or simple. An open answer space could be added so that customers may air their views or criticize the product.