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"marketing research"
marketing research
Justin Rech
1.0 Introduction

Researching the market in which a company target is the essential first step. Opportunities for markets need to be identified, as well as obstacles to market access in overseas countries. Moreover, the environment is dynamic: changes brought about by political, social, economic and other developments must be monitored, and their effects on market prospects and access assessed by management.

The function of marketing research is often concerned with the process of collecting, analyzing and interpreting the facts to establish what it is that people want and why they want it. It therefore includes market studies and any other research relevant to marketing operations.

The case study of CHUA company illustrate situations where marketing research was conducted and which was the marketing research approaches applied when assessing the potential of Thailand market.

Three central considerations are: (1) the need to define the specific problem properly; (2) the need to translate it into the form amenable to data collection, and (3) to appreciate the context of the research. Research should be effectively integrated into the decision-making system. Consideration was given to some of the parameters in designing the marketing information system, and some problems in its implementation were investigated.

Proper market research can reduce or eliminate most international business blunders. Market researchers can uncover adaptation needs and proper market strategies. Specific data requirements depend on the company, its products, and the type of decisions being made. Different sets of data are needed for a company to determine whether or not to go abroad, which countries to enter, how to enter the foreign markets, and what the best marketing strategies are. Research methods must be tailored to the particular situation.

2.0 Necessity of Marketing Research

Marketing research is important for an organization or company as the results of the data may help them in making a decision that...

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"marketing research." Aug 17, 2018
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