Marketing Research Essay Example | Topics and Well Written Essays - 1500 words - 1

Marketing Research - Essay Example The performance of marketing strategies is evaluated so as to identify the possible steps that can be taken for the improvement of market understanding. Marketing research makes the entire process of data collection very specific in a manner that it attempts to address only those issues which will lead towards the problem solving, it defines and suggests the methods required for data collection, the gathered data is then formatted and prepared for implementation, the results are analyzed and the end result is communicated to the concerned party. It also implies how the changing trend of marketing mix affects the consumer behavior. This term is often interchangeably used with market research, practitioners however have described it as two distinct entities; market research is the research carried out to understand only the market trend whereas marketing research attempts to address to the entire marketing process particularly entailing the changing behavior of the consumers and custom ers. (David, 2007) Here also marketing research process will be discussed with respect to Telstra Corporation (Australia). The issue under question will be how to address the different categories of consumers and customers using telecommunication services. ... The research methodology that has been adopted is secondary. Introduction (Telstra Corporation) Telstra is on of the leading telecommunication and information services company located in Australia. Their network is spread throughout Australia providing people with diversified services in telecommunication; they provide approximately 8.6 million fixed lines and the mobile services amount up to 10.5 million with the inclusion of 8.2 million 3G services. They provide comprehensive and efficient internet services which are popularly known by the name of Big Pond, services are also offered to other telecommunication and internet carriers. Furthermore Telstra has a 50% share in FOXTELÂ ® which deals with cable and television facilities and services. Vision Telstra Corporation’s vision is to make improvements in people’s living and working lifestyle. Mission To build and promote such a technology that is simple, has easy usage and provides value to the customers. Their claim is that they have the best knowledge about their customers’ needs hence designing the appropriate plan to serve them. Research Methodology The research method that has been used here is secondary source. Various published sources are tapped to conduct a comprehensive analysis of Telstra’s ranking in Australia’s telecommunication company. Telstra’s own published literature including quarterly and annual reports are explored to supplement findings. Further analyzed media a source including print media has been used to gain additional knowledge about Telstra. Hypothesis If extensive research is conducted on customers’ behavior, service usage and mentality about the product, it becomes easier to understand their needs