The Royal Mint Marketing Research Essay Example | Topics and Well Written Essays - 2000 words

The Royal Mint Marketing Research - Essay Example Further, marketing research can be identified as the process that links customers, marketing agents and the pubic – to the marketing agents in question, through knowledge – which is utilized, in the process of defining and identifying marketing problems, and opportunities. The process is also focused at the generation, refining and the analysis of marketing activities. The process also involves the monitoring of marketing routines, and improving the comprehension of marketing as a progression. Also, marketing research offers the specifics of the information needed to address these problem areas, offers insights into the designs of collecting necessary information, and offers a platform for the implementation and management of the data collection models under usage. Marketing research, also aids in the analysis of results from marketing inquiries, as well as offering models of communicating the conclusions and the implications of their implications. Further, marketing re search may be split into two, depending on the focus of the information quest – these including business to business marketing inquiry and consumer marketing exploration (Bradley 2007; Marder1997; Young 2005). The practice of marketing research is guided by the target market under question, or the methodological approach in question. Consumer marketing inquiry is an applied study of the preferences of the market, seeking to understand the attitudes, preferences, and the behaviors of the customers in a market oriented economy. The aim of the inquiry is to comprehend the comparative success and the effects of marketing promotions. This field of consumer research – as a statistical study was founded by Arthur Nielsen, especially, during the 1923 after the creation of the ACNielsen Company. On the basis of the coverage of the marketing research, this field may be described as an objective, systematic identification, evaluation, collection, and transmission of information f or the course of aiding management teams, during the processes of decision making. This is in relation to the recognition and offering of solutions of problem areas and opportunities under marketing (Kotler & Armstrong 2007; Malhotra 2002). The research Proposal Introduction Royal Mint has been in operation for more than 1,100 years ago. The company has developed into a global, market leader in the manufacture of coins, military medals and commemorative coins and medals for different organizations, these including schools, businesses and governments. The company has grown to become the world’s leading exporter of coins and medals. In 2009, the company was commissioned by the HM Treasury, for the manufacture of all the coinage used in the U.K. The company is fully owned by the HM Treasury, and is considerably established across the globe, but more established at the U.K, where the company’s operations are secured by the Ministry of Defense personnel –