The Use Of Market Research

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The Use of Market Research Nivea - Beirsdorf What is Market Research? Market research is about listening to people, analysing the information to help organisations make better decisions and reducing the risk. It is about analysing and interpreting data to build information and knowledge that can be used to predict, for example, future events, actions or behaviours. This is where the real skill and value of market research lies. The difference between Primary and Secondary Research Moreover, the difference between primary and secondary research is that primary research is data that you have collected yourself either by face to face interaction or a questionnaire, surveys or interviews. However, primary research can be expensive and it is…show more content…
It is often more reliable than quantitative data as the customers can talk about a particular product with further details. Which organisations have I been investigating? I have been investigating about Beiersdorf AG a company, which is a German personal care company based in Hamburg, manufacturing personal care products and pressure sensitive adhesives. One of it’s brand include Nivea. NIVEA is the master brand that drives the success of the whole NIVEA portfolio of sub-brands. Along with other brands, which include Elastoplast, Eucerin (makers of Aquaphor), Labello, La Prairie and Tesa. Why this business has conducted market research? Moreover, this company has done market research which has a clear goal to be as close as possible to consumers, regardless of which country they live in. Developing superior consumer insights is fundamental to the continued future success. The market research helps the company create and develop an up to date and relevant portfolio of products their objective is to be the voice of the consumers within the organisation. Also, high quality market research has helped secure the long term future of the business. These views provide information or insights that ultimately results in the development of new products suitable for a global market. The types of research methods the organisation has used and the results Moreover, the organisation has done some primary
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