Market Research Assignment Help
Most of the concepts in marketing revolve around the target customer and the target market. One more concept that helps in gathering information about the potential customer is known as Market research. Why the market research is important an important component of Marketing assignments? The reason is logical. Without any basis of the market, one cannot create a robust business strategy. Hence, market research is a vital component of business strategy.
Another term that is used for interchangeably with market research is marketing research. There are experts who draw a distinction between these two concepts; marketing research is concerned specifically with marketing processes while market research is concerned specifically with markets. Market research is a key factor to maintaining competitiveness over competitors. Market research, on the other hand, provides information for the market analysis and market need, market size and competition.
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Different type of market research techniques that is handy for assignment writing
Primary research and secondary research are two different types of research techniques employed by the Marketing professionals. Primary research is further divided into quantitative and qualitative research. Market research plays an important role in business planning and business strategy. There are few important things to be taken care of before starting with the business planning. Below are two different ways we can perform Market research at the initial level.
- Market information and market segmentation: This helps in the estimation of market demand and supply situation. Market research assignment help provides students detailed analysis of social, technical and even legal aspects of the market. Market segmentation on the other hand is the division of the market on the basis of the needs of the specific segment of the market. It is widely used for segmenting on personality differences, demographic differences and gender differences.
- SWOT Analysis: SWOT is the acronym used for Strength, Weakness, Opportunities and Threats that a business entity has. SWOT is used for the staging of the business and continues to prevail throughout the life of the business. SWOT plays a vital role in the analysis of the product design. Besides the information about target market, it also helps in the evaluation of the competitors, products, and customers behavior.
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