Question

Assume that you have been appointed as a Marketing Manager for an organization in your country or region. This organization manufactures different types canned food products. Over recent years the top management team has become unhappy with the sales of the products. After a series of meetings, it still remains a mystery as to why the products are not selling enough. You have been asked to conduct market research to find out the possible causes of this problem. Discuss how you would conduct an effective market research study for this organization.

Answer 1

solution-

market research is a very effective process to find out about what are the problems and the solution to the and it should be conducted by the organization to find out about the taste and choices of the customers. the market research can be done by following steps-

1. find out the problem-the definition of the exact problem is very necessary to conduct the market research so that the further market research plan can be made based on the problem.

2.formulation of market research plan-based on the defined problem the market research plan is based upon the defined problem so that market research is done for finding out about the solution to the problem.

3.collect data and information-the data is collected based on the problem and with the help of a newly developed market research plan.

4.analyse data-the collect data is analyzed thoroughly to find out what is the conclusion we can draw from it and putting it in the form of a graph or in a more meaningful way.

5.take action- so now based upon the research data and findings taking action to solve the problem so that we can increase sales and get customers' trust.