Question

5. According to the WHOLE process to do a market research survey, Students need to create one of products or service, then initiate real application/implementing to do market research in line with that product /service by briefing.

Answer 1

Market research involves a process of collecting, examining, and interpreting data about a target market. This market may include customers, products, adversaries or industry in general, and may also conduct research to find the market for their suitable products or to increase their victims.

Market research is an important step in starting a new product or starting a new business. This can help you find out if your business idea is something customers want, and provide feedback on your initial plans, making a costly mistake.

1. Face-to-face interviews: - Interviews are conducted in a similar way to focus groups, but with one person. It is helpful to know that someone is actually using their products or not.

Example: - Computer software company may want to test a new program so that they can create a computer and see how individuals use the program and ask questions, including how they like the program, or how easy it is to use. After that, they decide that the customer is also happy with them.

2. Telephone survey: -

Marketers conduct telephone surveys among a larger number of customers and customers. phone surveys tell more about what the average consumer thinks of a particular product. Example: -Bank can do 200 phone surveys to measure how satisfied customers are with their customer service. The Bank may require customers to expand their responses, which the bank manager may use to make improvements to the customer service.

3. Using Test marketing: - Businesses often undertake marketing research one step further with test marketing.

Example: - local restaurant, invent a new dish with the old one, in order to show customers through advertising, social media, television, etc. Corporate executives can then track sales and profits to confirm the success of the new meal.

These three are the most important source of the market research study. This shows how customers really like their products and services, and that it is useful for marketing research.