Introduction To Market Research

Introduction

The organization’s knowledge on market, its environment, information and development of entire marketing concept of an organization is known as marketing intelligence. Every organization has to pass a long procedure to eventually set up a perfect marketing intelligence. This report contains pros and cons about developing the whole marketing system by analyzing factors of consumer behavior for the attainment of insight about market, information about its competitors to gain competitive advantage and finding ways to design customer oriented market planning which can provide superior customer value and efficiency. Author concentrated on the objectives of the report to reach accurate and complete objectives which are mentioned before.

The observation of consumer’s product consumption in specified way can give idea of the whole consumer market. For example: Researcher can find out in which time in the year people buy air conditioning device the most.

Focus Group: Focus group is a under control research method where a group of 6-10 people is formed under supervision of a moderator, who will discuss and investigate the group about certain product, service & organization.in order to conduct the market research various types of experience, trials, surveys are done over the group to know their insight. For example: Dove in the starting led a research on a focus group to know, what kind of texture is preferred by the customer. This technique is beneficial when introducing a new product or developing a product.

Survey: Survey is one of the most widely used methods of market research. It is helpful for knowing the accurate and authentic opinion and condition of the market. The researcher conduct the research the survey based on some relative questions to the product, service or organization and random users answer it. For Example: A research can be done on the consumer’s about how they expect a certain product, in what size, which flavor, what price, how often they like to use the product

Market research is not based on individual, rather it is a collective effort which ensures the findings to be valid and reliable. Business has to take important decisions based on these findings. Any kind of fault in market research papers can lead a business to a deep darkness in near future.

Q6. Reviewing the success of a completed survey

The success of a completed survey depends on if the findings are accurate or not. A survey will be successful when all the focus and procedures of the survey will be focused on its objectives and relevant to the context. Researcher has to make sure that collected information’s are not manipulated and every piece of information is valid.

Success of a completed survey depends mostly on the authenticity, reliability, accuracy, justification of the survey question and response that is assessed against the questions. So in a successful survey both side of questioning and answering party needs to be