Select an organization with which you are familiar. Describe the importance of marketing research to your selected organization's management team. In your paper address the following:
? Define market research in terms of your organization (not out of a book).
? If your selected organization uses marketing research, identify the different types of marketing research it uses and describe their importance to the organization.
? If your selected organization does not currently use marketing research describe the different types of marketing research that would be beneficial to the organization.
APA Format, cite references© BrainMass Inc. brainmass.com June 3, 2020, 10:25 pm ad1c9bdddf
I have chosen the Apple Corporation and the Ipod product's market research.
Apple is truly a leader in innovation and innovative products. The company uses market research for all of its products and especially for its most profitable product, the Ipod.
New Product Development Market Research NPD
The first phase of the product is development. During this crucial stage, the research is done. The research begins with what is called New Product Development (NPD.) The two parallel paths that make up the NPD are product design, which is the idea generation portion, and the second parallel included a marketing analysis. During this process, the analysis acts as a guide to what the consumer wants. In the 1970s 8-track tapes were all the rage. Would it be feasible for a company today to market 8-track tapes and would the venture be profitable? No. 8-track tapes were bulky and were poor in quality. A resurgence of this product would be costly to the company as with today's technology, who would purchase one.
Beta testing, also known as market testing, is essential. This is where a prototype is produced and through focus groups, the product is tested on the public to view the reaction. Will the public purchase such a product? What changes need to me made? During this ...
The solution addresses Apple's Ipod and its marketing strategies, including Beta Testing and New Product Development,