As the function which helps in generating a lot of insight in regards to the consumers, cstomers, cients as well as the associated stakeholders of a business firm or organization (Kolb, 2008, p It helps the business organization to significantly identify the various patterns and trends that are existent in the market in regards to the consumer behaviour as well as the latest market trends that exists in various geographical regions (ESOMAR, 2007, p Talking in a more detailed manner, te function of market research comprises of of functions like determining and indentifying the research problem, dsigning the questionnaire or the survey instrument, dsigning the nature of research to be conducted as well as the entire methodology related to data collection.
I also has to be said that the market research process also involves significant amount of analysis of various relevant data that has been collected by the market researchers through the process of administration of the questionnaire. I is very important to mention that the marketing research has a high linkage in regards to marketing.
to be said that the process of marketing talks in broad details about the implementation of the product, pace, pomotion and price in the market place though effective segmentation, trgeting and positioning. It has to be said that the process of market research paves the way for effective segmentation, trgeting and positioning of the product and service to the right target audience through the gathering of the information in regards to the trends of the market as well as that of the customers. I has to be that market research paves a linkage between the value expectation of the consumer as well as the value intended to be delivered by the firm through their product or service offerings for a particular market or geographical location (Burns and Bush, 2009, pWhile approaching the market research issue, i has to be said that the researcher can decide on the nature of the market research he or she is interested to conduct.
Tlking on this note, i can be said that the research design and approach can be exploratory or or causal in nature.
A exploratory research design is highly instrument when the researcher intends to find out and explore the various issues and variables that might have significant impact in regards to the main research problem. I has to be said that in this particular case, te researcher. ..
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