Marketplace Research Kenny Zink GB500 U Essay

2064 Words Jan 3rd, 2015 9 Pages
Marketplace Research: The Why and the How
Kenny Zink
GB500: Business Perspectives
Unit 4

Marketing Research Marketing research is best defined as, “a way of investigating and answering questions about human behavior,” (Bont, Et. Al, 2007). Essentially, marketing research is a tool that helps businesses stay ahead of the trends and maintain a competitive edge in the constantly changing global market. Companies that make marketing research a central part of their business plan will see the business grow and develop to not just achieve their business goals, but exceed them. Robert Duboff puts it into perspective in a way that anyone can understand in terms of why marketing research is a valuable tool, “Marketing
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The information gather using this technique looks more concretely at a more cost benefit scenario and is more in line with the typical data being gathered by marketing research. This is an interesting idea because it presents such hard pointed evidence in terms of business opportunities that actually exists and how the business can expand, develop, operate, and grow to meet the needs of the market segment in which they operate. Gathering data in this way is beneficial to successful marketing strategies, but it can also cause business to focus too much on the bottom line of sales in terms of dollars and cents rather than putting a more personal touch on the goals and values of the business. These two data techniques are worth learning and developing because alone they can create lost opportunities for business to exactly pin point the precise time to build, diversify, consolidate, or reduce business actives that are conducive to meeting their specific goals and strategies that promote maximize value. Together these two techniques can create a marketing research strategy that best maximizes stakeholder and stockholder value as well as offer unlimited opportunities for the business to establish them as a market leader with the

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