1 6 Research in Marketing Student’s Name Institution Affiliation Course Title Professor’s Name Date Introduction Marketing research is an essential concept for any company, and actually, each company must have a department exclusively for market research purposes. Through marketing research, JC PENNY Company will be able to know what customers want, how successful the company is, and identify problems and opportunities in the market so that they can refine their marketing strategies. In this research paper, we are going to analyze and interpret the primary and secondary data collected. We will also look at the research findings and provide a summary, and lastly, we will make recommendations for JC PENNY Company and other companies in the same industry. Data Analysis and Interpretation Data analysis and interpretation are meant to give meaning to the collected raw data. Data collected was both primary and secondary data through qualitative and quantitative research. There are several ways in which primary data can be analyzed, including interviews, surveys, observational and generalizing results. Secondary data is analyzed by trying to use the information provided by someone else to answer the research question. I also used qualitative and quantitative analysis. In qualitative analysis, I used subjective judgment to analyze the company’s value based on information such as experts in management, how strong the department of research and development is, and labor relations. In quantitative analysis, I used financial instruments to analyze financial statements to try and predict events such as inflation and changes in Gross Domestic Product (Malhotra, Nunan & Birks, 2017). Data interpretation helped to bring some sense into numerical data collected, analyzed, and presented. I interpreted qualitative data by giving codes to all the results and reviewing the themes to make sure they fit the data collected and getting familiar with primary and secondary data collected. For quantitative data, I used pie charts and bar graphs. Regarding the question of what other challenges could Jc Penny be facing, 40% of the respondents said their biggest challenge is competition from other companies producing quality goods and selling them at an affordable price. 25% said that finance is another issue that has hindered the company from situating their stores in almost every state. 30% of the respondents stated that the company has unqualified personnel and has not had enough convincing power to ensure that consumers are more attracted towards buying the company's product. Especially during this era of covid-19, raw materials is also another problem, as 5% of the respondents said. (Goulding, 2015). If you look critically into the sales margin, it is clear that it has been decreasing from the year 2018 up to now. The reason could be because of the challenges interpreted in the pie chart above. In 2018 they made a lot of sales, but they could n ...

1. 1
6
Research in Marketing
Student’s Name
Institution Affiliation
Course Title
Professor’s Name
Date
Introduction
Marketing research is an essential concept for any
company, and actually, each company must have a department
exclusively for market research purposes. Through marketing
research, JC PENNY Company will be able to know what
customers want, how successful the company is, and identify
problems and opportunities in the market so that they can refine
their marketing strategies. In this research paper, we are going
to analyze and interpret the primary and secondary data
collected. We will also look at the research findings and provide
a summary, and lastly, we will make recommendations for JC
PENNY Company and other companies in the same industry.
Data Analysis and Interpretation

2. Data analysis and interpretation are meant to give meaning to
the collected raw data. Data collected was both primary and
secondary data through qualitative and quantitative research.
There are several ways in which primary data can be analyzed,
including interviews, surveys, observational and generalizing
results. Secondary data is analyzed by trying to use the
information provided by someone else to answer the research
question. I also used qualitative and quantitative analysis. In
qualitative analysis, I used subjective judgment to analyze the
company’s value based on information such as experts in
management, how strong the department of research and
development is, and labor relations. In quantitative analysis, I
used financial instruments to analyze financial statements to try
and predict events such as inflation and changes in Gross
Domestic Product (Malhotra, Nunan & Birks, 2017).
Data interpretation helped to bring some sense into
numerical data collected, analyzed, and presented. I interpreted
qualitative data by giving codes to all the results and reviewing
the themes to make sure they fit the data collected and getting
familiar with primary and secondary data collected. For
quantitative data, I used pie charts and bar graphs.
Regarding the question of what other challenges could Jc
Penny be facing, 40% of the respondents said their biggest
challenge is competition from other companies producing
quality goods and selling them at an affordable price. 25% said
that finance is another issue that has hindered the company from
situating their stores in almost every state. 30% of the
respondents stated that the company has unqualified personnel
and has not had enough convincing power to ensure that
consumers are more attracted towards buying the company's
product. Especially during this era of covid-19, raw materials is
also another problem, as 5% of the respondents said.
(Goulding, 2015).
If you look critically into the sales margin, it is clear that
it has been decreasing from the year 2018 up to now. The reason

3. could be because of the challenges interpreted in the pie chart
above. In 2018 they made a lot of sales, but they could not
sustain that positive curve due to competition and other factors
such as the emergence of COVD-19 that made so many people
lose their jobs; hence they have no money budgeted for luxury
purposes.
Research Findings
From this marketing research, I have realized that it is not
that JC PENNY Company is not producing quality products; the
issue is competition and challenge in meeting the needs of a
specific target market. Since the company produces several
products, they should be sold in different market segments. For
example, I found out that the sales teams have been advertising
and jewelry to those living in low-income areas, and their main
concern is basic needs. Products such as furniture should be the
ones to be sold in such areas. Therefore we have not identified
our market segment and target and what they want. I have also
noted that our products are high both in terms of quality and
prices allocated for each of them due to the high cost of raw
materials. We can also partner with upcoming companies that
have established their foundations and convince them to become
part of us to avoid the element of competition (Zikmund et al.,
2017)
Conclusions and Recommendations
In conclusion, companies and other marketers should never
forget that research is a going process, and they should make it
part of their daily activities. Without research, companies would
not know what their competitors are doing and what can make
them gain a competitive advantage after identifying their
weaknesses. Opportunity costs should not be ignored as they are
part of production costs. Before marketers engage in any
research, they must outline their objectives and conduct market
research. Companies should continuously study their customers
to produce goods that will satisfy their wants and needs.
Marketing research results should be shared with employees to

4. ensure that their activities are geared towards accomplishing the
objectives as to why the research was done. I would recommend
that JC PENNY go online as it is a cheaper and easier way of
doing business since they do not need ample space for more
stores in different states; they will only be making deliveries to
their customers at a small fee (Laudon & Traver, 2019). The
company should also conduct a study to identify what their
competitors are doing best to make them successful. To
succeed, they need to ensure they meet their customer's needs in
various markets to ensure an increase in customer satisfaction,
making the company's image in the marketplace more optimistic
than before. The management should ensure that the team in
charge of sales and marketing of the company's product receives
enough training on handling different types of customers and
how to convince them to make a purchase.
References
Goulding, C. (2015). Grounded theory, ethnography and
phenomenology: A comparative analysis of three qualitative
strategies for marketing research. European Journal of
Marketing.

5. Laudon, K. C., & Traver, C. G. (2019). E-commerce. Boston,
MA: Pearson.
Malhotra, N., Nunan, D., & Birks, D. (2017). Marketing
research: An applied approach. Pearson.
Zikmund, W. G., D'Alessandro, S., Winzar, H., Lowe, B., &
Babin, B. (2017). Marketing research. Sydney: Cengage
Learning.
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raw materials 0.4 0.25 0.3 0.05 sales Year 2018Year
2019 Year 2020Year 202160 45 28 4.5 Year 2018Year
2019 Year 2020Year 2021Series 3 Year 2018Year 2019Year
2020 Year 2021