@ Market research is the collection and analysis of information about consumers, competitors and the effectiveness of marketing program.
@ Most of business owner use market research
+ Find and develop new market.
+ Determine optimal product placement ( when , where, how )
+ Develop optimal strategies for promotion.
@ we can do a several way to research is conducted
+ customer surveys ( online, one -on-one interview and also sell phone )
+ Web-savvy business such as Social media, Facebook, Twitter, Linkedln.
+ Focus group can collect very useful information but are different to organize and expensive.
+ Direct observation (watching or video recording customer in natural setting such as a store front)
@ For example of changes Driven by Market Research
1. McDonald's made manu change and no longer sells chicken products containing human antibiotics or other ingredients.
2. Lego was an enormously successful product with young boys, but was popular with only 10% of female children. Later, they have a new produce became a huge success and the share of female lego user increased sharply.
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