Gabs Zamoranos 23 June 2014

4 BS CTM Reflection Paper

I previously thought that market research was only about the target market of a certain
product or service and the research on the demographic details concerning the purchase of
this target market. As I finished with the first Marketing course, I learned that sort of view on
market research is incomplete. We were taught that market research is not only about the
needs of the target market but also about the lives of the target market. This sort of holistic
approach is necessary for a more complete understanding of how the members of the target
market would react to a certain product or service should this product or service be changed
in a certain way or in a certain aspect.
The market research industry in the Philippines is geared towards organization and
excellence. The Marketing and Opinion Research Society of the Philippines aims to promote
a sense of professionalism with regards to how research is conducted. Therefore, a level of
ethics is also promoted when conducting market research. It also implies that this orientation
towards excellence promotes an appreciation for market research as a tool for better
management. Moreover, the appreciation that market research deserves stems from the fact
that this tool is effective in a companys decision making.
The relevance of market research is relevant so much so that there are companies that
are involved with mostly just market research. Some companies in the Philippines include
ASCEND All-Asian Centre for Enterprise Development, FSA Inc., InsightsImpact Inc., and
Prestige Market Research among others.
The careers involved in market research are statisticians, analysts, management and
science graduates and technology professionals. The technicality that market research
demands rightly involves people coming from these backgrounds. Statisticians are involved
with the numerical data that are then calculated into useful information used to better
understand the market. Analysts, with the help of statisticians are involved with the
interpretation of the data gathered from research on the market. Management helps with how
a certain company would react to the data and information that they receive about the market
by creating business plans and strategies to engage the market. Technology professionals aid
in implementing these plans and strategies in such a way that as much as possible, interaction
with the market is direct.
As for the research methods, there are two types. The first of the two is the
quantitative method of research. This is used to statistically estimate the view points of a
population providing estimates of percentages or averages. This research usually employs
large samples and takes small amounts of a respondents time. Telephone, mail, intercept,
door-to-door, Internet or Web surveys, central location tests, mystery shopping and in-home
use studies are all used in quantitative research.
The second type of research methods is the qualitative method of research. This type
of research yields an in-depth understanding about an issue. Qualitative research typically
focuses on a small number of people. Since these people are interviewed in-depth, interviews
tend to be longer and are often unstructured. An outline of discussion points, rather than a
questionnaire is often used. This type of research also tends to be conducted in person, either
in focus groups or one-on-one interviews, although the Internet is a growing medium for this
as well.
As for now, being at the very tip of entry in learning more about market research, I
can say that this field of knowledge is very diverse. The subject of marketing research is so
relevant that a companys decision making becomes more informed with this tool. I believe
that by learning the basics of marketing research, seeing that this diverse of a subject could
not be taught fully in a mere three-unit course, I will be equipped with the tools to make
decisions in the realm of marketing and generally with how I would want a company or firm
to move. It then becomes my best interest to be professional with the use of market research.
Resources:
http://www.marketingresearch.org/career-guide
http://directory.esomar.org/country139_Philippines/?letter=all
http://www.mores.com.ph/