Importance of Market Research
You will be conducting an interview with a market research professional or a company representative. Use the results of your research to make specific recommendations on how market research can be applied to the Marketplace Simulation. Submit your 3-page APA-formatted paper. In your Marketplace simulation game play in this unit, you will be concentrating on growth options and using market research to help you in your decision-making. Bont and Hamersveld (2007) put it this way: “Today, organisations, when making key decisions, are mindful of the importance of ensuring that they understand the views and opinions of current and potential customers and know what competitors are doing in the marketplace” (p. 3). Understanding the role of market research and the many methods for conducting market research will be valuable for your work in this class and others in your program. Learning from subject matter experts (SMEs) in market research is the focus of this week’s Assignment and Discussion. View some ideas for identifying a market research professional or company.
Reference Bont, C., & Hamersveld, M. (2007). The market research process. In Market research handbook (Chap. 4; pp. 99–128). John Wiley & Sons.
Importance of Market Research
For this Assignment you will be:
- Providing an overview of Market Research incorporating applicable unit resources and at least two (2) other academically credible sources. (PLEASE USE ONLY PEER REVIERED JOURNAL ARTICLES) Include; types of market research, data gathering methodologies, data analysis methodologies
- Identifying areas about market research that are particularly interesting to you or that you would like to know more about.
- Creating a set of 3–6 questions using the information you have learned in your reading and research that will help you gain a greater understanding of these areas.
- Identifying a market research professional or a company where a representative can talk to you in more detail about the market research process. View some ideas for identifying a market research professional or company.
Importance of Market Research
- Conducting an interview with a market research professional or a company representative.
- Using the results of this research to make specific recommendations on how it can be applied to the Marketplace simulation.
You will post the results of your work in a 3-page APA-formatted paper, not including title and reference pages, to your Unit 6 Discussion Board. Your peers will be commenting on your work, and you should use this feedback to improve your paper in anticipation of its final submission