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Activity:
107 views;
last activity : 07 06 2010 20:18:09 +0000
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Business Makes its Market Itself!!
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MARKET RESEARCH
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Market trend
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Changing needs
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Track of technology
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Hi, As far as I think every business from any Industry helps get the best together, so we should do market research for the best service you provide and find the best payers to your service, whom you can trust for longer delivery for services specified from time to time. Eventually, business cannot be done alone. When you land in the market , I think you should be a Roman in Rome.
Please enlighten my thought with your views.
Regards Kevin
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Every product and every brand can't win the customers satisfaction, mostly 70% of new brands are failed to deliver the customer expectations. Even FMCG gaints HUL, P&G, Godrej go market research for every product before they release.
Market research helps to fill the gap between the manufacturers and customers regd the tastes and preferences. Many commercial adds today go through the research phase to test the potentiality of customer response regd the advertisement.
In Telecom industry all companies Southern States for pilot testing, it resulted in positive for them. Market research business is very huge, and currently there are many players entering into it, because the entry of new brands in India. Atleast one new product/brand launched in India everyday in Telecom and FMCG sector.
i2 gose with you but in the initial stages we are totaly depend upon the marketing for the business to grow
you r absolutly right .. bussiness and market has an ultimate relation ship.. so it does and make its market itself.. as per requirment
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MARKET RESEARCH IS FUNDAMENTAL TO ANY BUSINESS AND IS A CONTINUOUS ACTIVITY IN A GOING CONCERN--IT MEANS A SET OF PEOPLE LOOK AT THE MARKET, EXISTING AND PROSPECTIVE AND GET RELEVANT INFO ON A TIMELY BASIS TO INJECT/ SATISFY THE CORRECT REQUIREMENTS THE BUYER WANTS, BE IT PRODUCT,SPECS,SERVICE OR ANY ASPECT OF REMAINING OR SUSTAINING A MARKET-- IT IS A SINE QUA NON TO SUCCESS IN RETENTION,GROWTH AND EXPANSION IN ANY SPACE OF BUSINESS YOU ARE IN-- T.PATTABIRAMAN,VICE-PRESIDENT, MOHAN MUTHA EXPORTS, CHENNAI |
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Market research helps to keep track of the changing trends of consumers so that necessary changes can be made in the product. It helps to know various characteristics of the market segment which helps for efficient advertising.
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Product management team needs to understand the trend of the market. Market demand and their feedback would be most essential factor for development and placement strategy for companies growth. Some times strategic decision to maintain the leadership by either self customized solution or may be aquisition would be very much dependent on Market research analysis. |
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Market research helps you to find out if there is a change in customers need, usage & behavior, you will find out in due time in order to adapt to or anticipate their needs. It can offer you the necessary insights so that in your communication you can pinpoint to what touches your consumers the most. The first who finds out may have the upper hand.
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Technology plays an important role in every business. Companies offering new products and services, it is absolutely essential they keep track of new and innovative technologies to ensure they are on the right track and do not invest millions on a dying technology. Market research helps in finding out the best in technology.
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