Market Research Techniques

Market Research Techniques

Introduction

Market research can provide critical information about buying habits, needs, preferences and opinions of clients, both regular and future. The nature of the information required and the amount of money you're willing to spend would determine which techniques you choose for your business. The purpose of this paper is to apply market research techniques to one of the common problem of a business network security (Javalgi, & White, 2002). As we know that technology is playing an important role gaining competitive advantage of a business and Companies are reinventing and reengineering themselves at an ever-quickening pace. Innovation has become a battlefield and information technology is a key weapon. On the other hand this paper also discusses the importance of Global marketing research in dealing with issues of business strategy.

Market Research Techniques

To create or launch a new product, or to adapt work to the application or the expectations of consumers, a survey conducted to measure well the risks and know which way to go. The process is not complicated in itself, but many pitfalls can skew results and lead you to wrong conclusions.

There are many ways to do market research, but most companies use one or more of the five basic techniques:

Polls

Groups of opinion

Personal Interviews

Comments

Field Tests

It is very important to apply global market research techniques because Studies in the U.S. and Germany mentioned the following points relevant to the failure of innovation projects:

Incorrect market analysis

Deficiencies of the product and technological problems

Marketing insufficient

Incorrect evaluation of company resources

Underestimating the competition

Timing wrong for placing on the market

The background investigation is what happens to so-called secondary data consisting of information and statistics that exist somewhere (cameras, companies, databases, etc) and it can be used to make commercial knowledge of the phenomenon in question. Although its cost is reduced, the information can be obtained in this way is very general and serves only as a preliminary approach (Czinkota, & Ronkainen, 2002). However, it is important that the researcher take care that it be reliable, timely and relevant to the purposes intended. There are many international Marketing Research Problems with international markets numerous problems with the data side problems with data reporting Report primary research.

An analysis of the tourism market and descriptive findings is that individuals of the populations of more than 10,000 people much more often choose the holiday season as a time-shift their residence. With this data reference to a particular travel agency could come up with a promotional strategy for this type of tourism in small towns, believe they have discovered a niche market. Well, now suppose that the small nuclei distribution by sector incorporates a much higher proportion of workers in the agricultural sector than in the large nuclei, and the only time they can get away from their work in the field is in summer. If this is true, the agency that designed the promotional campaign would fail. We see that while the investigation is statistically perfect (since ...