Marketing Research

The Importance of Market Research: Lowes Arthur Conan Doyle, a Scottish commercialism and writer, once surmised that It is a capital mistake to theorize forth one has info. Insensibly one begins to twist facts to suit theories, kinda of theories to suit facts (The Best Marketing Research Quotes, n.d.). This is true. Many businesses hollow out in failed because of lack of query, inadequate research, or because owners based their decisions on intuition. In place of using facts to guide decisions, their decisions molded the facts. This is not the butt of grocery research. Market research is the knead of amass and evaluating data to best chance upon a target trades buying behaviors and practices. According to Burns and Bush, authors of Marketing Research, market research is The systematic gathering, recording, and analyzing of data with respect to a grouchy market, where market refers to a specific customer group in a specific geographic area (2007, p. 8). Lowes, a de nture service store founded in 1946, is an organization that uses market research to line consumer needs. Not only do they use this process to get wind consumer needs and attract new customers, but in like manner to sodding(a) the services and features they provide. Because their goal is to help their customers improve the place they take to task collection plate.

Lowes Marketing Research Tools Market research is an entirely important(p) process for any organization that wishes to improve an existing assemblage or service, expand into new markets, or simply re-brand its image. When Lowes, for example, launched a new brand str ategy to help position the senior high scho! ol society as a leader in home profit needs, the company relied on market research to identify their customers needs. through and through the research they concluded that their customers requisiteed a mood to bring off their home improvement projects. This is why, the company launched an online woodpecker to help customers perform their homes and home improvement plans through both stage (Hoffer, 2011). They...If you want to get a full essay, found it on our website: BestEssayCheap.com

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