Kids Market Consulting

Kids Market Consulting

Introduction

Case studies are a rather important part of any course of education. The reason behind this is that cases provide students with a chance to evaluate real life situation with reference to their own perceptual frameworks and theoretical learning. Moreover, since all the education courses are directed towards ultimate goal of producing effective employees for the corporate world; developing important concepts through case studies even more important (Dul & Hak, 2012).

Kids Market Consulting is counted amongst one of the most successful market research conductors with reference to the niche market of kids within Ukraine. In order to understand about the market research industry of Ukraine and how Kids Market Consulting developed itself to be amongst the top names; an in depth discussion regarding the relevant factors is required.

Discussion

Question 1: How would you evaluate the market attractiveness of the marketing research industry in Ukraine?

Before entering any industry, the first and foremost step which is the most important is to conduct a complete evaluation of the overall status of the chosen market. Moreover, conducting a market research not only highlights the associated market opportunities but also helps in minimizing the overall risk associated with the selected market (Kotler, 2010). In the case of the Ukrainian market, conducting a pre-entry research is extremely necessary to ensure survival and growth.

As far as the marketing research industry of Ukraine is considered, the attractiveness of the market can be evaluated by looking at the following market characteristics:

A well established duration of development

As mentioned in the case, the marketing research industry of Ukraine has been developing from a lot of years after the country got independent. Moreover, the biggest advantages of such a long duration include:

Development of research awareness within the market

Establishment of healthy competition

Acceptance by the Corporate Sector

Minimization of risk because the industry has not failed but grown in the years of its duration

Development of Self-Regulating Organizations

One of the most important signs of the progress of the industry is that different corporations have finally accepted marketing research and the work related to it as part of something that could be separated from the basic company operations and could be done better on contractual basis. Therefore, for the satisfaction of this demand, self-regulating marketing research organizations have developed.

Record Breaking Profits and Extreme Competition

In comparison to the advertising industry, the market research industry is growing by leaps and bounds. Moreover, the progress of the research ...