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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In order to answer this question, we must first define what marketing research is. 'Marketing research is a systematic approach to gathering facts and figures related to the marketing of goods and services' (Tull and Hawkins – 1992). This is a very simple but useful definition that can be expanded to underline the purpose of this activity to 'a formalized means of obtaining information to be used in making marketing decisions'. These 'marketing decisions' are the answers that organizations must answer in response to questions about their customer base. Marketing research is all about gathering information to encompass a wide range of issues relating to an organization and its environment. Marketing research can either take place internally within the firm or externally – using a specialist marketing research firm. I will examine the ways in which marketing research can improve performance and the benefits of using a specialist research firm. Marketing research is an important part of a firm's business strategy. This is reflected in American Marketing Association's statistics that states 77 percent of the nation's consumer goods manufacturers maintain formal marketing research departments. This stresses the growing need for marketing research particularly in the face of the change towards stiffer competition by other firms in the same markets. Marketing research is a must if organizations wish to get ahead of the pack to find out more about their customer's needs, the rival's prices and ensuring the consumer is happy with the product after purchase. Approximately three out of four new products will fail to attract enough buyers to remain available for purchase. Most marketers give the reason as a failure to understand market needs. Firms view the matching of a new product to potential customers to improve the chances of a product's success. A firm's own sales analysis is also...
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Introduction Primary Marketing research is a technique of collecting customized, original information from potential consumers that shows their buying behavior, preferences, and behaviors concerning certain products or services. Secondary marketing research is gathering information from existing sources such as figures, reports, the Internet, or demographic data. The objective of this paper is to illustrate primary and secondary marketing research and how it can benefit my organization. The primary marketing research that we used in the resort industry was surveys. Surveys can give a company and its management a lot of information on performance, satisfaction and demographics. A combination of these types of research work well when researching and developing a marketing plan. Primary and Secondary Marketing Research Primary Marketing research is a technique of collecting customized, original information from potential consumers that shows their buying behavior, preferences, and behaviors concerning certain products or services. This type of information can be collected or obtained from customer surveys, product testing, customer purchasing records, and customer interviews. This type of information is usually collected for a specific type of objective. Secondary marketing research is gathering information from existing sources such as figures, reports, the Internet, or demographic data. As a note secondary marketing is not as accurate or specific as primary marketing research. The most important feature of secondary sources is that they offer an interpretation of information gathered from primary sources (SUNY at Albany). For example, secondary marketing research can tell you the amount the average consumer spent on at a ski shop, a restaurant or at a ski resort but is unable to forecast or estimate the future spending or spending limits. Credit card companies are a good example of secondary marketing research because they can show what has been charged and where but can not forecast the spending habits for the future. This information is...
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I. EXECUTIVE SUMMARY Sarah Norton is an MBA student who specializes in market research. She has one semester left until graduation and is working as a graduate assistant. She is a person with very high ethical values and she is very religious. She looks for a job in Hammonsville, where she wants to stay. She starts working for the Wise Research Corporation, a field research services company. They have offices in Dallas, Hammonsville and Tulsa. She travels to Dallas to start her training for the job and finds out that the company's behavior to the different stakeholders is very unethical. Sarah, a very ethical person with high values, finds herself in a big dilemma – should she stay with the company or better, resign from the job even though she quit her graduate assistantship. In the situation analysis, environmental, cultural and political trends are discussed. The economy in general is not in a growing stage and the ethical behavior in business is not sufficient. Nevertheless, there is a growing trend to increase ethical behavior, and many companies and associations develop a code of ethics for their business or industry. In the second part of the paper, the problems appearing from the situation are discussed. Unethical behavior and it's impact on the stakeholders of the company lead to Sarah's decision whether to resign form the job or not. In the third part, a solution is presented which is the resignation from the job. A justification of the chosen solution follows and also an implementation strategy. II. SITUATION ANALYSIS A. Environment 1. Economic conditions and trends The economic conditions are important in this case because they are not favorable to find a job; especially not for lower managers like MBAs just graduating from college. The American industry is in the process of downsizing. In Appendix one, unemployment figures...
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Introduction KFC operates in 74 countries and territories throughout the world. It was founded in Corbin, Kentucky by Colonel Harland D. Sanders. y 1964, the Colonel decided to sell the business to two Louisville businessmen. In 1966 they took KFC public and the company was listed on the New York Stock Exchange. In 1971, Heublein, Inc. acquired KFC, soon after, conflicts erupted between the Colonel (which was working as a public relations and goodwill ambassador) and Heublein management over quality control issues and restaurant cleanliness. In 1977 a "back-to-the-basics" strategy was successfully implemented. By the time KFC was acquired by PepsiCo in 1986, it had grown to approximately 6,600 units in 55 countries and territories. Due to strategic reasons, in 1997 PepsiCo spun off its restaurant businesses (Pizza Hut, Taco Bell and KFC) into a new company called Tricon Global Restaurants, Inc. Reasons for going overseas Companies moves beyond domestic markets into international markets for the following reasons: *Potential demand in foreign market *Saturation of domestic markets *Follow domestic customers that go abroad *Bandwagon effect *Comparative advantage - some countries possess unique natural or human resources that give them an edge when it comes to producing particular products. This factor, for example, explains South Africa's dominance in diamonds, and the ability of developing countries in Asia with low wage rates to compete successfully in products assembled by hand. *Technological advantage - In one country a particular industry, often encouraged by government and spurred by the efforts of a few firms, develops a technological advantage over the rest of the world. For example, the United Sates dominated the computer industry for many years because of technology developed by companies such as IBM, Hewlett-Packard and Intel Organization structures for International Markets (Modes of Entry) *The mode of entry affects a company's entire marketing mix...
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Abstract As the stock market continues to crash, aggressive marketing and sleek products by the by PC manufacturers are attempts to set the stage for a strong aggregate performance by PC market. The PC price slicing war currently raging between PC manufacturers is being used to cause market share shifts, and help to tempt consumers ravaged by economic recession to buy more of the product. The present PC demand is bugged down by prevailing recession. Analysts believe that the market will rebound soon economic indicators show signs of improvement. Introduction The PC and the peripherals supply are at the beginning of one of the dynamic period because of emergence of Pentium-Pro and similar next-generation accessories. The computer and information technology survived the concerns and fair of the millennium bug without crashing as speculated, which invariably implied that PC market is here to stay. Goldberg (1998) observed that the combination of lower pricing and non-stop marketing activities would help to keep the PC market hot. Nevertheless, the current recession appears to weaken consumers' purchasing power, which is affecting the current demand for PC. Gill (2002) in her article, stated that despite computer makers best effort to entice business and consumer spender with sleek new hardware, upgraded operating systems and bundle software packages, growth forecasts for the worldwide PC market have been slashed due to continuous reluctance demand particularly in United States and Canada. Discussion and Analysis on Current Demand and Potential Experts in market research are of opinions that PC market in U.S. and Canada is getting slightly saturated especially with older models of various brands. This scenario, in addition to economic recession play significant role in current lower business and consumer demand for PC. Notwithstanding, future market potential is likely to spring back as soon as economy improve, and consumers begin to replace old models...
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Marketing Research Introduction: Ice Cream is one of the most popular deserts anywhere in the world. A lot of people favor ice cream particularly on a hot summer day. People from all ages and from all walks of life indulge in this delightful and delectable snack. Even health-conscious individuals prefer to eat ice cream because of its nutritious, calcium-rich content. In Assumption College school cafeteria, ice cream is one of the few deserts they offer to students. Although students buy it, it is not as 'saleable' as expected. Probably, one of the reasons is because there are only a few options for the consumers to choose from. There are only two brands sold in the school canteen, namely Magnolia and Selecta. This is a matter that led to the topic of this research study. The significance of this study is to make suggestions to the school cafeteria head on how they can better serve the students, faculty and other school personnel as their consumers. Likewise, the consumers demand to be provided of their wants and needs in terms of the food being served, particularly of their favored ice cream desert. On the other hand, this research only covers a study on what brands of ice cream most Assumption students prefer, as well as their opinions and recommendations about their satisfaction and needs from the cafeteria service. Marketing Research Process I. Marketing Problems and Research Objectives The marketing problem of this study is the inadequate sales of ice cream sold in the school cafeteria. This problem results from the infrequent consumption of ice cream in the cafeteria. An observation that not many Assumptionists purchase ice cream in the school led the researchers to come up with their research objective, which is to determine what brands of ice cream are most preferred by the Assumption students. In conducting the research,...
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Music censorship has been a major problem plaguing America for over fifty years. In 1957, Elvis Pressley was only allowed to be filmed from the waist up on the Ed Sullivan show (Nuzum 1). Plenty of controversy has taken places between then and now, but more recently it has become much more prominent in the media, and people and organizations are beginning to actually take a stand. For example, Island Records (owned by Disney) dropped the Insane Clown Posse just after their release of The Great Milenko and MTV actually refused to play Madonna's video for Justify My Love because it was considered too sexually explicit (Nuzum 1). Music content is just one of the many issues that puts the First Amendment of our Constitution to work. On one hand people believe that lyrics should be censored so that people can be protected. And on the other hand, people believe that the First Amendment protects everyone's rights to free speech. Basically, it is a matter of whether lyrical censorship be accepted. Many people say yes, that there should be censorship because lyrics from songs are telling our youth it is acceptable to participate in illegal actions such as murder, rape or drugs. These people believe that the lyrics actually drive people to become social deviants. In one case, the parents of John McCullom sued Ozzy Osbourne, because his song "Suicide Solution", "aided, advised and encouraged" McCullom's suicide (Nuzum 1). C. Delores Tucker, chair of National Political Congress of Black Women, said, "No one and no industry should be allowed to continue the social and psychological poisoning of the young minds of this nation that occurs with the music industry" (91). This belief of musical content being "poison" is prominent all over America. During the 1970's, record burning was a popular way to speak...
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Is music an art form? When answering this question take into consideration Bach, Vivaldi and Bocelli, all artists who were allowed to express themselves without being censored. Censoring today's artists and their music hurts them in many ways; it limits their expression and also hurts their record sales. There are many parental and religious groups who fell that censoring music is necessary to protect today's youth. The music displays foul language and expresses pro views on sex, drugs and gangs. People as a way to present the way they feel or to relay a message to large amounts of people have always used music. In this day and age it is harder for musicians to propagate their messages to the masses because once it is played on the radio a "dead noise" is dubbed over any offensive or suggestive words. In doing this, the listener is misguided as to what they are listening to, and in some cases prompts them to find out what was really said. In any instant the censorship is not stopping the listener from uncovering the phrase that has been covered. Parents are less likely to buy their children a CD that has a warning sticker on the front stating that the CD has explicit content. This would clearly hurt record sales and would discourage the artist from making the same type of music. Selling records in very important in the music business and if artist's records do not sell because of the content then is it really the artist's fault? Or should the parents have a more proactive role in helping their children make the right decisions? I fell that a parent should not limit their child to things like listening to music instead they should help their child in understanding the music and letting the child...
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Popular music today has been greatly enhanced by modern technology and is much different from say the music fifty years ago. From my own experience I have discovered that pop music is highly popular among young teenagers or old children whereas I have found that punk rock or heavy metal is usually the older teenagers choice. But of coarse there are exceptions to my beliefs. When we talk about charts we must understand that now-days there are an infinite number of charts around and we must not get one chart mixed up with another, but to add to the confusion also each chart could be based on a different theme like for example one chart could be based on how many albums have been sold while another on how many votes. The point I'm trying to express is that not all charts can be trusted because they could be based on a completely biased category like for example the most colourful hair or the most singers. As well as this though some charts can not be entirely full-proof for example on a voting based chart you might have to vote on a website but this is a problem for people without a computer meaning not one hundred percent of the population vote. Personally I have no particular individual favourite band, I like a range of bands but I only like two styles of music, which are: punk rock and heavy metal. From the bands I like each one usually produces one or two songs that predominantly stand out to me. Some examples would be "Crawling" by Linkin Park, "Adam's Song" by Blink 182 and "The Kids Aren't All right" by Offspring. These songs were so excellent in my opinion that I utilised the Internet in order to download each of them. The...
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