| Topic : The Game Of Market Research.. |
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Activity:
131 views;
last activity : 04 23 2012 07:03:29 +0000
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Will help identify opportunities.
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Tells What customer Needs
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help to reform
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HELP YOU DECIDE
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hello frnds am back
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Additional business
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Additional business
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others are
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Help understand things better
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Helps in reducing uncertainty factor.
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Identifies your standing in the market place
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problem solving
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Market research
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Where you stand in the market
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Testing Ad effectiveness
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SWOT Analysis
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what are the benefits of market research?
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gathering Information on market, products, competition etc
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Development Of New Product/ Service
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WILL KNOW THE PRESENT MARKET CONDITION
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gives our position in the market share.
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Helps in all aspects
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Both
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Check the competition. Are they missing something you can capitalize on? What can you do better than they can? Are you clients in need of something nobody else is offering? |
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intuition is not enough while starting a new business.however intuition supported by a good research work helps to develop reasoning
Yes, you come to know future prospects for your business. I support your views, Sheetal.
Stratgegy is a game plan for achieving feautre course objective.With out proper statrategy for any organization it is likea a ship with out rudder.
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In todays Fast changing environment all company aimimg to get profit have to get update with need of customer which is fast changing then ever, these needs are the opportunities for the companies selling Product or services
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As stick is to a blind person, MR is to Marketing people.
Research helps is every possible way to turn product into a brand. Before launching any brand, MR helps to find of the prospects of the product category. After launching it helps to generate data from Target Customer Regarding their likings for the category & especially for their Brand. It’s costly but it helps marketer to know about customer preferences & market offerings. If marketer follows with sincerity the break even can be achieved with much ease as compared to not following.
MR provides different views to look at the problem.
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there are so many benefits of market research for instance if any company is planning to launch any new product its better to get a response before they launch it into the market directly because sometime even after spending a huge amount on promotions as well as having unique features consumer can refuse the product , appropriate market research gives you the chance to save your product from this downfall. be it you do research in house among your employees or as a sample to consumer through their feedback company can come to know their shortcomings and reform accordingly so its always good to do market research . |
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It gives all the required,relevant information,from which one can have insights and inferences and decide how to go further. |
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in this MRis always benificial.....and got booth advantage n dis advtge adv-to knw the knw-how of the market... to knw the current sinerio...n take action accordingly... to reciev correct data throgh primary research n frn secandory resaerch.... disadvatage that it is long process take more time moneya n labour... it can be confusing...etc etc |
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market research give us to add more additional business with more creativity
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market research give us to add more additional business with more creativity
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1)Product feasibility/ requirement: is the pricing right or More is the Product required or is the market ready for such products ? 2)Target markets : Specific products work only is specific market/condition/area. Eg instant coffee , is a flop in south India 3)Check on market share/ Check on compititors |
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Research helps you understand things much better than we assume things to be. It helps in better planning and conclusion. Market research can be done in two ways - Primary Research and Secondary Research. Secondary research is all about collecting data available in internet. Primary research is a kind of data collection through direct surveys, meetings, brain storming, interviews etc.
A proper amount of R & D before we do anything would definitely lead in better results.
Regards,
Anna George.
Web Analyst.
Nichepro Technologies.
Bangalore.
http://www.nichesuite.com
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Risk in business arises out of uncertainty. By understanding the eco-system around one's business through market research, one can reduce uncertainty and there by mitigate the risk.
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Good market research helps you in identifying your place in the market and also aids in showing you the way forward by identifying the grey areas. MR can also help you in listening to what your customers want and redesigning your products accordingly. One of the best examples that come to my mind is Godrej Refrigerators - after continuous MR they came out with EON range of refrigerators that proved to be an instant hit and takes on its korean competitors heads on. |
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In business, asking right questions, deriving alternative choices in problem solving and decision making are important components. Marketing research helps in generating data inputs. |
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Mystery shopping is the best tool |
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Market research not only help in building strategy by identifying new needs / requirement of customers but also helps in identifying where are we standing in teh market vis a vis our competitors. This is the best way to improve the processes & grow business as Market Research helps in understanding the market place or the place where one operats more closely.
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Research enables advertising to be tested during a campaigns development or prior to launch to ensure its effectiveness, and after launch to measure the success of the media used. |
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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Market Research is a diagnostic tool in designing and maintaining successful Marketing Strategy SWOT Analysis: Key Ideas to consider: 1.Why are “You and Your Services “ uniques? Are You atleast 10% beter than your competitor? 2.What is OR What could be our weakness compared to our major competitors? 3.Why are some companies successful in the same set of circumstances? 4.What Single feature/Benefit can I can develop that will give me a competitive advantage? 5.If someone else applies my own successful concept and gets a similar or better result.How can I prevent it? 6.If prevention is not possible ,How can I develop certain set of strategies that is not instantly copy able? ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ |
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1 companies remain product focussed concentrating on functional utilitarian benefits which can easily be measured,monitored and understood. 2 market research benefits us to judge and forcast volume sales during recession and once the economy recovers. It gives us the right message to boost consumer confidence on our products. |
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Data is a life line for a organization in a particular industry. organized data is information.information guides the organization. Markets research gives valuable data and helps in decision making
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Development Of New Product/ Service As Per The Market Requirement Or Improvement In The existing Ones, Are Perhaps The Only Long Term Benefits Of Market Research. The Regional Trends And Formation Of Marketing Strategies Could Be Other ones. |
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WILL KNOW THE PRESENT MARKET CONDITION |
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Market research describes all the fundamentals of our product alongwith the existing same products. Survey must be done with out any prejudice to extract the correct guidance to follow for immediate action. While assessing the report, the person should understand the mind of the surveyor. |
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The basic and very important activity to be performed is market research, which gives a complete view how the markets are doing and what to be done to survive as an entrant.
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Both. Market research is essential for any Marketing or Advertising project.
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