RESEARCH PROCESS

Research Process

Research Process

Introduction

Research is carried out by every company. It is done for various reasons. Some do it for continuous improvement and there is a separate department for it, the research and development department. There are certain companies that conduct research before launching a new product or a service. And then there are new companies that conduct research before entering the market. It provides an insight of the market and customer attitudes. This information helps a company a lot in improving their products and also in knowing if the new product they are planning to launch will be feasible for the company or not (Wilson, 2003, pp. 35).

Market research

It is conducted to find about the markets, target population, their needs, competitors etc. It helps in analyzing the market so that the company is aware of the market conditions, consumer behavior and their responses.

Market research is conducted to analyze the trends of the market. It also helps in known the customer needs and their behavior towards a specific product. If a company is launching a new product, it first conducts a proper market research so as to know if the product is feasible or not. This paper will briefly discuss the marketing research undertaken by a company, Good Oils to examine the attitude towards utilizing olive oils at home (Kumar, Et. al, 2002, pp. 18).

Research Process

The four phases in a marketing research help in conducting a thorough research and having an outline helps the researcher stick to the research he is supposed to conduct. The four phases if followed by the researcher will certainly help the company in assessing the customer attitudes and then come to a conclusion (Hair, E. at, 2003, pp. 35).

Problem Statement/Research Objective

The main research objective of this paper is to examine the attitude of customers using olive oil at home.

The research will be carried out by breaking the main objective into three further sub-objectives:

Assessing the domestic usage of olive oil.

Identifying the competition and consumer attitude towards a new oil product.

Determining ways how the new product can be launched in a market.

The first sub-objective will assess the whole process of olive oil usage at home. The procedure will be assessed from the time when oil arrives in the home and till it is consumed or disposed off.

The second sub-objective will focus on identifying the competitors Good oil will face when it enters the market. Prior research will be conducted so that the company knows what strategies to adopt and how it should go about marketing its product.

The third sub-objective will help the company in developing strategies how it should market its new product. Based on the data gathered in the first and second sub-objective the solutions for third sub-objective will be decided (Crimp & Wright, 1995, pp. 30).

Determination of Information Research Problem

The research objective of this paper is to examine the attitude of customers using olive oil at home. A new company, Good Oils is entering the market and wants ...