Market research is activity which is used specifically to provide data to facilitate the making of marketing decisions - namely: product development, pricing, communication and distribution decisions. Such decisions can be classified as either ongoing, i.e. relating to the problems encountered in the continuous process of marketing a portfolio of products or services; or ad hoc, i.e. arising out of particular problems or developments.
Market research consists of a variety of techniques each of which matches a particular need;examples of such techniques include the following:
- web scanning
- monitoring trade press
- marketing feedback
- focus groups (see below)
- structured and unstructured interviews
- observation
- motivational research
- market surveys
- marketing experimentation
Market research is covered in the syllabus of ACCA and is covered by the e-books of tony.surridge.co.uk.
We recommend the tony.surridge.co.uk ACCA e-books which cover exam text, diagnostic questions and answers, mnemonics and charts in selected subjects. These provide important support for students studying the ACCA syllabus.
Friday 19 August 2011
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