2. Compare and contrast customized, standardized, and syndicated marketing research. Provide an example of when you would use each. in 250-350 words only please
WORD COUNT -- 342 WORDS
Marketing research is a structured knowledge collection and such data collecting review links customers and the public with the marketer to detect marketing challenges and opportunities, analyze marketing behavior, monitor marketing efficiency , and enhance the overall marketing cycle. Data suppliers which may be either an internal supplier or an external supplier provide consumer analysis details. Many suppliers, distributors, and distribution companies, such as McDonald's, Kraft Foods, or American Airlines, have limited divisions for internal marketing analysis and Procter and Gamble (P&G) has a wide department for internal testing. Outside vendors are non-marketing consulting companies contracted to supply marketing analysis details; so they may be categorized as full-service provider companies so limited service contractor firms; full-service providers are firms providing a wide spectrum of marketing research activities; they include structured information covering two specific groups, including syndicated data services.
Syndicated data is a type of primary and secondary data provided in a generic format and ready-to-use routine information made accessible to several users identified as a syndicate through a general database, implying that the information is not personalized to suit the requirements of any single client or intended to solve customer-specific problems. For a popular network, syndicated data is given with a subscription fee paid to users and such consulting companies who supply the data are classified as syndicated data processing companies. Such vendors give all voting participants of the syndicate syndicated details on a subscription basis, this comprehensive knowledge might be of interest to businesses in a specific sector but may not be accessible in libraries. Syndicated data sources constantly gather data on the use of a given commodity or goods or the buying habits of a broad consumer customer demographic. Such results are then provided to businesses who decide how much results they want and the information they need; the more data and study they require, the greater the volume and what they are not doing is doing testing directly for some one consumer company. With syndicated data, both the data collection and analysis process and the data itself are standardized.
2. Compare and contrast customized, standardized, and syndicated marketing research. Provide an example of when you...
please answer both questions for me! You only have to answer each in 150 words or less. for each Thank you so much! I always upvote by the way! Q1. What type of marketing research might work well using standardized data? Q2. What might be a good example of a time when customized research may be the most appropriate for a marketing research project?
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