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Published by Giri Dharan

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Published by: Giri Dharan on Apr 07, 2011
Copyright:Attribution Non-commercial


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Market Research
Market Research For Business Planning &Growth4 Tanishq An Introduction5 Locating Tanishq6 Product Line & The Collections7 Tanishq For You8 Tanishq Retailing9 Marketing10 Tanishq Marketing Strategy11 The Jewellery Market12 Some of Tanishqs Competitors13 Tanishq Market Research14 Tanishq The Turnaround Story15 Promotion, Advertising & Public Relation16 Tanishq In The News17 Globalization
s we see it, research in advertising and marketing is verycrucial in understanding, speculating on, and ultimatelydetermining the position of the product in the consumer'smind.It is like a homework task that a goodadvertising/marketing/sales person would always carry outbefore (and after) implementing the said product'sadvertising/marketing strategy.By collecting data with the help of research methods, theresearcher can manage to understand the consumer, whathe wants, when he wants it, and how he wants it.Research methodologies, more or less, aim to revealconsumers’ different perceptions of the product, in large partabout the way it is advertised.The researcher wants to know how effective theadvertisement is on his listeners, where the strategy fallsshort, and where it can improve.Ultimately, it can be said that the most important task of advertising/marketing research is to increase the sales of theproduct. This requires a well developed marketing plan, agood know-how of the prospective consumer, and most of allan effective and rational research methodology.
Market research is the process of systematically gathering,recording and analyzing data and information aboutcustomers, competitors and the market. Its uses include tohelp create a business plan, launch a new product or service,fine tune existing products and services, and expand intonew markets. Market research can be used to determinewhich portion of the population will purchase aproduct/service, based on variables like age, gender,location and income level.Market research is generally either primary or secondary.Insecondary research, the company uses information compiledfrom other sources that appears applicable to a new orexisting product. The advantages of secondary research arethat it is relatively cheap and easily accessible.Disadvantages of secondary research are that it is often notspecific to your area of research and the data used can bebiased and is difficult to validate. Primary market researchinvolves testing such as focus groups, surveys, field tests,interviews or observation, conducted or tailored specificallyto that product.A list of questions that can be answered through marketresearch:
What is happening in the market? What are the trends?Who are the competitors?
How do consumers talk about the products in themarket?
Which needs are important? Are the needs being metby current products?.

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