What about "Marketing Research"? Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service. The term often refers to a common framework known as the four Ps. The information could be about a target market, consumers, competitors and the industry as a whole. Market research is a valuable tool to help you understand your: industry and market; customers and their needs; competitors and what they are doing; market trends and economic changes. A telephone operator could collect information or organize focus groups—and do so quickly and in a more organized and orderly fashion. Exploratory research is a less structured option and functions via more open-ended questions, and it results in questions or issues being presented that the company may need to address. Market research helps you find customers for your business. pp. Social media sites responded by expressing solidarity with the African American Community. The results of market research, which are usually summarized in a report, are then used to help business owners make more informed decisions about the company’s strategies, operations, and potential … , The Gallup Organization helped invent the public opinion poll; today, "Market research is a way of paying for it.". Competitive analysis helps you make your business unique. More complex is the relationship of consumer-to-business (C2B), which sometimes introduces reliability problems. Brand health can be measured in a number of ways, such as brand awareness, brand equity, brand usage and brand loyalty. concept testing, which evaluates reactions to a film idea and is fairly rare; positioning studios, which analyze a script for marketing opportunities; focus groups, which probe viewers' opinions about a film in small groups prior to release; test screenings, which involve the previewing of films prior to theatrical release; tracking studies, which gauge (often by telephone polling) an audience's awareness of a film on a weekly basis prior to and during theatrical release; advertising testing, which measures responses to marketing materials such as trailers and television advertisements; exit surveys, that measure audience reactions after seeing the film in the cinema. Learn about the different types of market research and where you can find research information. Data collected from these interviews were compared to the circulation of the publication in order to see how effective those ads were. , Some data collection is incentivized: a simple form is when those on the road contribute to traffic reporting of which they are consumers. Market research is primarily concerned with knowing the capacity of the market to absorb a particular product. Manufacturers are very responsive to what they learn from research. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior. But instead of companies actively seeking participants by finding them on the street or by cold calling them on the phone, people can choose to sign up and take surveys and offer opinions when they have time. Primary information is the data that the company has collected directly or that has been collected by a person or business hired to conduct the research. Employee Survey Software Employee survey software & tool to create, send and analyze employee surveys.  Also required is the (at least passive) cooperation of those being surveyed; trust is also helpful. Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. Test subjects are usually compensated with product samples and/or paid a small stipend for their time. It involves collecting and analyzing data and then evaluating market potential. The UK Market Research Society (MRS) listed the top social media platforms primarily used by Millennials are LinkedIn, Facebook, YouTube and Instagram. Since the concept of marketing revolves around the customer, it becomes very important for any company to satisfy its customers. 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