Posted: June 28th, 2022

the importance of market research

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Assignment 1: Paper on the importance of market research
You will be conducting an interview with a market research professional or a company representative. Use the
results of your research to make specific recommendations on how market research can be applied to the
Marketplace Simulation. Submit your 3- to 4-page APA-formatted paper to the Unit 4 Assignment 1 Dropbox
by the end of the unit. Bont and Hamersveld (2007) put it this way: “Today,
organisations, when making key decisions, are mindful of the importance of ensuring that they understand the
views and opinions of current and potential customers and know what competitors are doing in the
marketplace” (p. 3). Understanding the role of market research and the many methods for conducting market
research will be valuable for your work in this class and others in your program.
Learning from subject matter experts (SMEs) in market research is the focus of this week’s Assignment and
Discussion. View some ideas for identifying a market research professional or company.
Reference
Bont, C., & Hamersveld, M. (2007). The market research process. In Market research handbook (Chap. 4; pp.
99–128). John Wiley & Sons.
For this Assignment you will be:
● Providing an overview of Market Research incorporating applicable unit resources and at least two (2)
other academically credible sources. Include; types of market research, data gathering methodologies,
data analysis methodologies
● Identifying areas about market research that are particularly interesting to you or that you would like to
know more about.
● Creating a set of 3–6 questions using the information you have learned in your reading and research
that will help you gain a greater understanding of these areas.
● Identifying a market research professional or a company where a representative can talk to you in
more detail about the market research process. View some ideas for identifying a market research
professional or company.
● Conducting an interview with a market research professional or a company representative.

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