The Mediamark Research Inc. (MRI) is a New York based company, which was founded in 1979. Its primary role is to advertise goods and services offered by various companies, and sectors of production. MRI further advanced to acquire Nabscan National Scanning Services, which enabled movement tracking of different products using the Universal Product Code. This code facilitated speedy tracking and studying of results that were commissioned by advertisers, so that they could make them available for many of their target audience within the shortest time possible. More information about Mediamark can be seen here https://dissertationmasters.com/ There is a golden opportunity to order a master dissertation about Mediamark that will cover deeply this topic.
The MRI has a wide range of clients in diverse fields of production as well as service delivery all over the world. Some of its major clients are magazines, TV and website advertisements, and manufacturers and marketers among others. These companies often use data collected and analyzed by the Mediamark Research Inc. to launch new products in the market, determine the lines of business extension to invest in, and the kind of products to adapt or abandon based on the customer’s preferences.
In as much as the MRI is focused to advertise various prominent products of different companies in magazines, research confirms that these advertisements are inconsistent with the audience profile of MRI magazines. This is because many of the targeted audience tend to find very little information, or even fail to get any information concerning these products. Most of them, especially those from other countries (other than U.S.A.), do not usually have an access to these magazines. Therefore, it follows unconditionally that advertisement of products through the MRI magazines is inappropriate and inconsistent as it does not reach out to most of the target audience. Furthermore, marketing of products using MRI magazines is subject to delivering insufficient information about them; due to that, there exists poor reception and misinformation about the products that leads to lower sales.
Companies should not rely fully on data collected, analyzed, and presented by MRI to make critical decisions that affect their operations. It is vital for every company to have its marketing team which has a direct contact with their customers. They should be able to find out the opinions of their customers and the kind of products that suits consumer’s satisfaction. The magazines usually give information on the competency of various products in the markets, but do not tell the exact kind of products that many customers would prefer to purchase. Finding primary data from the customers would enable the company to acquire information on the preferences of the company, the kind of services they require from the employees of the company, the kind of audience they are targeting, and the affordability of products and services they deliver to them.
Secondary data have a number of limitations; among them is difficulty in accessing them. Many of such data require a lot of time to find and seek relevance in it. Moreover, they are costly to access them as they require some resources. In addition, they are often inaccurate due to the lack of a real control measure over their quality and may not meet the exact purpose of the study. On the other hand, primary data have multiple advantages over secondary data; these include the collection of accurate and direct data from the target audience, the data collected is comprised of the unbiased information, the information researched on is relevant and suits the desired purpose, and the data is basic.
In conclusion, primary data collection is a more preferable method than the secondary data collection. It gives the company an opportunity to interact directly with their customers, share opinions, and learn the specific things that are required by them. As a result, I would recommend that all companies have a marketing team, which would interact with their targeted customers to improve on their sales.