Managing Communication Knowledge and Information –

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

A market analysis, or market research, helps to understand the community an organization is working for, as well as come up with ideas for the future (Berkowitz, 2011). This is true for any organization, and even more important for smaller organizations, as that may not have a large amount of money to use for new ventures, services, and products. Not to mention the organization needs to determine the best plan of action for their consumers, as well as those that are not yet utilizing the services and products being offered.

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

Market research indicates decisions made by a business, in this case Tesco, by helping the decision makers understand undercurrents of its market. This process involves research done on customers, competitors and the overall marketing environment.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Market research is utilized by companies to make the right decisions when it comes to

Market research consists of information collection regarding the prevalent market situation, and its analysis. “We define marketing research as the systematic design, collection, analysis, and

What is Market Research? When you collect and identify data (qualitative data and quantiative) about customers, the market and competitors.

Identify what consumers might want in the future, thus making more informed choices to be one step ahead of their competitors.

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

Market research can provide companies with vital information which allows them to make choices based on what the customer wants. It can allow businesses to predict what might happen in the future of a

Marketing research is best defined as, “a way of investigating and answering questions about human behavior,” (Bont, Et. Al, 2007). Essentially, marketing research is a tool that helps businesses stay ahead of the trends and maintain a competitive edge in the constantly changing global market. Companies that make marketing research a central part of their business plan will see the business grow and develop to not just achieve their business goals, but exceed them. Robert Duboff puts it into perspective in a way that anyone can understand in terms of why marketing research is a valuable tool, “Marketing

A comprehensive market research allows you to systematically manage business opportunities. Our team will develop these researches in different countries for you based on a quantitative analysis of trade history, potential costs, competitors, customer profiles and local government policies. This analysis will allow you fully understand the prospects of target markets and ensure your sales force uses its limited resources for the most profitable effect.

| This assignment offers you the opportunity to achieve two Merit descriptors if your work demonstrate that you have: a) Made effective judgements based on your study and research, b) Used a range of sources of information , and c) Presented your assignments logically and coherently

Market research is another key characteristic in order to succeed as it helps organisation to determine what consumer’s needs and wants are. By conducting market research it helps understanding what consumers are seeking for and finding ways to provide products or services which customers demand as it very vital.