Business Research Problem: Knowing Your Customer, How to Market a New Good or Service
Knowing the customer is one of the most critical aspects of any business. This is especially true when a second-tier or flagging company confronted with the problem of how to market a new good or service to gain market share from the primary market mover. (Bryman & Bell, 2001) A number of business research methods present themselves to any organization to involve potential customers in the design and construction of a new product, including questionnaires, focus groups, interviews, and interviews. (McNamara, 1999) The outcomes to these methods of customer outreach can result in either the outright rejection of a new proposed product, a reexamination of the product, or a reexamination of the presumed market segment or date of scheduled release of the product. However, for the research to be most effective to the organization, specificity is key. Thus the operational definition of the research problem should take the form of the question, not merely if product X will be successful but, "will product X be a successful product in the summer season, amongst the organization's usual consumer base?" (C
Quantitative research of the competitive environment, such as the financial status of the company's competitors, or historical trends in soda buying during seasons, must be added to supplement the qualitative research delineated above. (Hopkins, 2000) Also, such qualitative research must be conducted, even in the form of interviews, in such a way that the responses can be rendered into tabular form, as well as take into consideration personal responses. Qualitative and quantitative methods of business research, even when describing something as subjective as customer desires, always must be looked at in consort rather than side by side, one method must not dominate the other-industry trends and changing consumer desires must be weighted and considered in the decision-making process. Business research is a science, but often an imperfect one, in measuring consumer projected behavior To view the process in sequential terms, first company management formulates the problem-for example, consumers have complained that the soft drink company does not have a wide enough selection of diet flavors in toda
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