P3: Describe how a selected organization uses marketing research to contribute to the development of its marketing plans

Market Research: Market Research is a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment. It always incorporates some form of data collection whether it be secondary research (often referred to as desk research) or primary research which is collected direct from a respondent. The purpose of any market research project is to achieve an increased understanding of the subject matter. With markets throughout the world becoming increasingly more competitive, market research is now on the agenda of many organisations, whether they are large or small.

Marketing Plans: Product specific, market specific, or company-wide plan that describes activities involved in achieving specific marketing objectives within a set timeframe. A market plan begins with the identification (through market research) of specific customer needs and how the firm intends to fulfil them while generating an acceptable level of return. It generally includes analysis of the current market situation (opportunities and trends) and detailed action programs, budgets, sales forecasts, strategies, and projected financial statements.

Primary internal research:
 where the business conducts their own research internally - inside of the business. For example conducting interviews/questionnaires with the staff within the business.

Primary external research
 where the business conducts their own research externally - outside of the business. For example conducting interviews/questionnaires/focus groups with people outside of the business. These people can be prospective customers, suppliers, agents, and Government etc.


Secondary internal research
Data that is already in existence. Internal research is