Marketing Research Tools Most businesses are customer-focused and use marketing as a way to attract current and potential customers by customizing their marketing mix. The marketing mix consists of the four Ps: product, price, place and promotion. To create a successful marketing mix or even evaluate a current marketing plan, organizations are able to meet the needs of their customers through market research. Market research assists management in important decision-making processes and can help companies develop strategies to achieve business objectives. There are two types of market research; secondary and primary research. Secondary research involves readily available data and often includes information obtained or published by someone else (Aaker, Kumar, & Day, 2001). This may include a business website or a government website such as the Census Bureau. Primary research is information collected to address a specific research objective such as a survey, focus group, or experiment. (Aaker, Kumar, & Day, 2001). Overall, market research provides a planned approach to achieving business goals and objectives. Understanding the differences in primary and secondary research when using qualitative and quantitative approaches will help any organization gain a better perspective of the various ways market research can be applied to achieve business objectives. Secondary research It is important to evaluate the current situation before jumping straight into it. market research because it can be timely and expensive. The first step in market research is to use a cost-benefit analysis and decide whether the cost of the research is worth more than the value of the data retrieved. If the benefit of the research outweighs the cost, it… halfway through the paper… rather tests their hypothesis. Secondary and primary research can also include both qualitative and quantitative methods. Using both qualitative and quantitative analytics is the best way to understand customer needs and will give companies more insight into why customers make the decisions they do. Market research is an essential tool for organizational success because it allows companies to evaluate themselves and make smarter business decisions. Works Cited Aaker, D. A., Kumar, V., Day, G. (2007). Market research. John Wiley & Sons Inc Aaker, D. A., Kumar, V., Day, G. (2001). Market research. John Wiley & Sons Inc. Retrieved March 9, 2012, from http://duhoc-online.net/modfnet/Librarian/eBooks/Eco/Mic/Marketing/Summary/Summary%20-%20Marketing%20research.pdfMcDaniel, C.J., Gates , R. (2007). Market Research (7th ed.). John Wiley & Sons Inc