Identify the significant changes taking place in today's business environment

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1. Identify the significant changes taking place in today's business environment that are forcing management decision makers to rethink their views of marketing research. Also discuss the potential impact that these changes might have on marketing research activities. Please provide adequate references for each of the points in your discussion.

Today's business environment is relentlessly subjected to significant changes. These changes force decision makers to reassess their views of marketing research and also induce changes in the marketing research processes themselves. No longer is marketing seen as a component of the sales branch in a company but it has established a well-deserved status as a vital element of the working of the
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Decision makers must therefore understand this and assess whether the use of the internet in their research will be beneficial. For example marketing research regarding elderly people may be quite ineffective as only a minority proportion of the target group with very similar characteristics will respond. It would also likely take a very long time to build up a worthwhile sample size for analysis. It is up to a decision maker to prevent these mistakes from occurring.

Globalisation

Globalisation is a term used to describe the amplified interconnectedness that has occurred in recent years. Technological changes enable information and goods to move much faster than has ever been possible before, making transporting and communicating with people much easier. Other factors also responsible for the phenomena include the end of the cold war and the growth of more liberal political thinking, causing the withdrawal of trade barriers.

Identifying current marketing research needs requires an understanding of the changing global environment. Thirty to forty years ago many U.S. firms were faced with slowing rates of growth in domestic markets and began entering international markets. Japanese and European firms followed suit and also expanded globally in order to broaden the scope of their operations, enabling them to compete with foreign
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