Market Research Study Importance

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Market research study is considered to be an important element in the process of the new product introduction. The marketing research is a complex study covering a lot of steps and methods of the particular marketplace. The seminars carried out managed to disclose all the necessary strategies of the marketing evaluation and perfect research fulfillment.

As it was shown the complex analysis of the market position demands a variety of plans and steps. Thus, the first section of the market research covers the evaluation of the effects of the long range plans. The case studies provided at the seminars showed that one of the most important and difficult tasks for every developing company is a new product management. It should be mentioned that the right price and particular perception of the product are the main problems of the companies. To carry out a perfect research of the market one should clarify the task and the purpose of it. This aspect is very important for the questionnaire designing.

The seminars contributed a lot to my personal professional carrier because they provided me with the most important aspects of the company development and market research conduction. I learned the peculiarities, importance and nuances of the questionnaire design. This tool is considered to be quite vital for the marketing research professionalism. This process covers all the aspects of the necessary research making. It is considered to be a perfect guide for marketers.

A professional and skilled researcher should be acquainted with the nuances and intricacies of the questionnaire development. The seminars highlighted the main steps of the appropriate questionnaire making on the examples of the real case studies of the great companies such as McDonalds and helped to understand the major points in order to avoid grave mistakes in the process of questionnaire designing and research conduction. The main task of the questionnaire is considered to be the examination and evaluation of the customer’s perception as to the introduction of the new product. It can help in the identification of the expected price and demand of the customers.

The sales generation and cost information are useful for the complementation of the marketing intelligence and research. The main step is the question identification. It is very important to follow this step correctly as appropriate questions can lead to the underlining of the major marketing strategies which cannot be observed by the marketers directly. Each questionnaire can be focused on the closed and open questions used for the evaluation of the quality expectations and necessary price.

The material provided at the seminars appeared to be important for the understanding of the marketing effectiveness peculiarities. The ability of the company managers to meet sales quotas results not only in the profitable operations but also in the customers’ satisfaction increase and new sales goals establishment. It should be stressed that sales organizations are to be flexible to meet the changing of the business conditions.

The marketing research strategies also involve such areas as adequacy of the inventory management in order to make planning for the optimum inventory levels. Thus, it is clear that the questionnaire is considered to be important for the price and qualities identification. This aspect of the marketing research showed the importance of the step covering the product perception and problems connected with it. The information analyzed highlighted the methods of the main company objectives achievements. (Brace, 2008)

The next point in the appropriate marketing research development concerns the involvement of the measurement tools. As it was shown at the seminars different measurement techniques were developed for the purpose of attitudes measurement to various objects such as products, price, perception etc. the development of this aspect caused the usage of two basic responses:

Qualitative;
Quantitative;

In order to identify the negative or positive value of the attitude statements the investigators try to create their own strategies of the statements positive functioning. For this process the usage of the scales is considered to be rather important. As it was shown during the seminars and researches processes attributes can be measured on the following scales:

Nominal (identifying scales);
Interval (they are considered to be very important because of maintenance of equal interval);
Ordinal (used in the marketing researches for ranking);
Ratio (scales which are referenced to completely zero values).

For different types of statements researchers use various scales in order to identify the total score. The attitude of the customers to the product and their perception of its position at the market are considered to be stimulating point in the company strategies development. (Malhotra, 2002)

The concept of the scale is basically used in case of the systems proportion in the process of the marketing research. It helps to evaluate the customers’ needs and wants; the researchers fulfill their operations through the market communication and innovations promotion. The reflection of the results with the help of the measurement scales helps to evaluate the economic well-being and marketing impact on the consumers’ decisions. Different scales help to identify the buyers’ behavior and possible reaction to the innovation introduction.

The effectiveness of the marketing is closely connected with the appropriate decision making. The usage of the qualitative and quantitative models in the process of the business conduction and research making depends upon the major decisions and identification of the target audience. The decision making process in the marketing research is considered to be vital for the usage of the appropriate strategies. The development of marketing goals and approaches to use merely depends on the right decisions accepted in the business process.

To understand the value of the seminars it should be stressed that they appeared to disclose the main issues of the marketing problems solutions carried out with the help of marketing strategies and models of analysis. The designing of the questionnaire in the research process is regarded to be the way to many important answers concerning marketing positions and customers’ perception of the product. The involvement of the scales and measurements as it was proved previously can be regarded the helpful tools for the successful quantitative analysis and research.

The seminars helped to understand the fact that the usage of the important and appropriate methods and models would allow to solute a lot of complicated and significant problems related to the particular area of study. The meaning of the decision making and the effectiveness of the marketing appeared to be closely connected. It is difficult to criticize any point of the seminars as they appeared to be beneficial for my future career and skills development.

References

Brace, Ian. 2008. Questionnaire Design. The Second Edition. Kogan Page, Limited.

Marketing Research. Problematic Issues. Web.

Malhotra, Naresha. 2002. Basic Marketing Research: Approaches to study. NJ: Prentice.

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Market Research Study Importance

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