Welcome to Market Research Guide
Market Research Jobs Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
What Is Market Research?
from:The process of methodically obtaining, recording and then analyzing the data or information about prospective customers, business competitors plus the existing market trend is called Market Research. It is precisely used to design and create an effective and efficient business plan, to project and launch new products or services into the market, to position and fine tune current services or products, or to expand and increase the reach of the existing product or service. Market research sometimes is used to estimate what parts of the population are interested and are most likely to purchase a product or service, after analyzing and studying many variables including gender, age, income level and location.
Market research is almost always either primary or is secondary depending upon the business need. The Primary market research involves an exhaustive testing of variables like focus groups. The activities like surveys, field tests, interviews tailored specifically to that product are conducted to study the product positioning whereas in secondary research, indirect information gleaned from various sources that appears to be relevant to the new or the existing product is used to estimate the product positioning. Some advantages of the secondary research as evident from its generalized methodology as compared to the customized one of the primary research lies in the fact that it is primarily easily accessible and cheap. The obvious disadvantage of a secondary research is that it is often not specific to a product and the research and the data collected is often biased and is difficult to validate.
Market research aims to answer the following questions:
What are the existing market trends? Which way is the market going? Who are the other parties involved with similar products?
What are the views of consumers about products in the marketplace?
What are the prime needs of the market? What are the new business opportunities? How successful are the existing products in meeting the needs of the consumers?
Using Market research companies can collect information regarding new products, existing products and new business opportunities learn how well new items will be received by the consumers. It can also help businesses to learn how the public responds to a similar product before actually launching the product or service. In this way, business can align their product and service lines with the wants and needs of potential consumers. They can halt production of products that are not popular amongst consumers and improve a product that the public shows little interest in, or lower the price as necessary based on market research information.
Market Research Jobs Specific links
Market Research Jobs News
How Many New Jobs Will Come From Crowd Funding? A Visit with Alon Hillel-Tuch, RocketHub
Last week I talked about the earliest market research on crowdfunding. Out of the responses to that column as well as to my initial column in Harvard Business Review, this caught my eye: RocketHub, one of the major crowdfunding platforms in the U.S. is working with the SEC in hopes of helping to guide the ...
Read more...Research Alert: Reshoring of Some Chinese Manufacturing Jobs Becoming Likely As Cost Gap is Expected to Shrink to Just ...
The tide has begun to turn on the flow of manufacturing jobs from the U.S. to China and other low-cost countries, according to a new study from The Hackett Group, Inc. .
Read more...Students ‘searching early for jobs’
Students are applying for more jobs at an earlier stage in an attempt to secure work in what they see as a tough employment market, research suggests.
Read more...Takeda will add 30 biotech jobs in San Diego
Takeda plans to close its San Francisco facility and shift research jobs to its unit in San Diego.
Read more...JOBS Act Provides Access Road to IPO On-Ramp
By Timothy J. Keating NEW YORK (TheStreet) -- The most important IPO-related story as of today is not Facebook's IPO last Friday, but last month's enactment of the Jumpstart Our Business Startups (JOBS) Act. This new law contains all the elements needed to breathe new life into an IPO market that had been eviscerated over the past decade. It is an especially welcome tonic for the emerging growth ...
Read more...