• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

How useful might the result of a market research be to a business

Extracts from this document...

Introduction

´╗┐In order to introduce a product into the market which satisfies the demand of the consumers we need market research. Without market research it is very rare that a business product can be very successful at the beginning of the product life cycle. Market research is required by the business for many reasons: One of the main reasons as mentioned before is to reduce the risk of failure of launching a new product; this can be ...read more.

Middle

would result in the business having to change their products that is diversify or modify their existing product to the changes in tastes, age structure and even income levels, etc In order to be successful we have to know the market trends as well as the the pattern of sales of a product in order to be prepared to face any problem that comes along the way. ...read more.

Conclusion

business to be effective in their marketing they need to be aware not only of what consumers would prefer in their product but also what other things about the product attracted the consumers like promotions, packaging, different flavor of the product and styles. This could be done by experiments like giving out free samples to the public or by observation. These are some of the basic reasons why market research is needed and useful for the business. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. Marketing Research. Explain how different marketing research methods have been used to make a ...

    with a better mix of ages to see if this is still the case. From the results we also found out that 43% wanted to have their accessories fitted professionally and 21% were happy to fit those their selves. We think from these answers that looking into training staff to

  2. I am going to be writing about the concepts of marketing distinctiveness of the ...

    Acceptable language McDonalds used to have a chicken mcnugget commercial but then it got banned because the language was not appropriate and looked racist therefore that commercial got banned. They need to use language that is understandable for everyone. The same commercial is in most of the countries in English

  1. Applied Business Studies

    have 'Actors Vision' set up in fantastic places like Liverpool, Leeds, Cardiff, Birmingham, Glasgow, and of course London. This would be a long distance objective though, for now, it's just to increase my profit to buy more products for the business.

  2. Catering research

    C2 89.6 87.1 D 84.6 77.6 E 89.5 74.4 Region East Anglia 89.0 82.9 East Midlands 94.1 93.4 Greater London 87.0 88.8 North 91.7 87.6 North West 89.6 88.7 Scotland 82.7 88.2 South East 85.8 84.5 South West 89.8 87.2 Wales 91.4 90.6 West Midlands 93.4 84.7 Yorkshire/Humberside 90.8 89.8

  1. Unit 2 Investigating business

    up Disadvantages of being a sole trader: * You need to put a lot of your own savings and money into the business therefore it could take quite a while. * You will be responsible for any losses * You will have to pay for any debt * You have

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    Before researching my primary research I will have to consider some important points, these are: Initial considerations: ? The type of information required ? The type/ nature of respondents who are to be surveyed ? The method(s) by which the survey is to be administered Limited factors including; ?

  1. A Business Plan

    After researching on the Internet with the help of http://www.businesslink.gov.uk/bdotg/action/layer?r.l1=1073858799&r.l3=1073960126&topicId=1073858799&r.t=RESOURCES&r.i=1073791619&r.l2=1074402480&r.s=m was advised that I follow certain regulations in maintaining a clean, tidy safe working environment and recycling any wastage produced and should be aware of visits from local authorities. Insurance: Using the following link helped me to identify the type

  2. Research into Business Plans

    It also means I have sole control of the business and will be free to make the decisions I feel would be best for the business. It also means I will reap all the profits but will also have to sustain any losses the business may make.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work