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Evaluate the Role of Market Research in the Decision Making Process of an Organisation
Pages 8 (2008 words)
Name: Tutor: Course: Date: University: Evaluate the role of market research in the decision making process of an organization Introduction Market research can be regarded as the function linking the marketer to the customer through information. The information collected during market research plays an essential role in evaluation of marketing options, monitoring performance in the market and defines opportunities and problems in the market…
Mostly, the firm undertakes a study of a small sector of the population and the data collected represents the entire population. For example, married women who work in Bristol and are between the ages of 30-45 can be used to represent all urban women who work in the United Kingdom. The Role of Market Research in the decision making process of an organization In order to reach and appeal to the target market, organizations utilize strategies that enhance the success of their activities in the market. For example, Arbitron conducted market research that indicates people who frequently attend movies say that commercials on television cannot be termed more acceptable than commercials aired before the start of the movie. 53% of people who frequent cinema halls find movie advertising more acceptable; only 46% contend that television advertising can be termed as acceptable. The research also indicated that 59% of people who attend movies remember the commercials they watched on the screens before the start of the movies (Wiley 2012, p. 4). The study also indicated that advertising using cinema can be regarded as the best way of connecting with the younger generation. ...
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