{"id":501,"date":"2015-04-21T22:42:30","date_gmt":"2015-04-21T22:42:30","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=chapter&#038;p=501"},"modified":"2015-07-11T23:43:30","modified_gmt":"2015-07-11T23:43:30","slug":"market-research","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/chapter\/market-research\/","title":{"raw":"Outcome: Market Research","rendered":"Outcome: Market Research"},"content":{"raw":"<h2>What you\u2019ll learn to do:\u00a0describe the process for and purpose of market research<\/h2>\r\nWhere do companies come up with the ideas for their new products, goods, and services? How do they determine whether\u00a0they need to change the packaging of their product, reduce the price, or add new\u00a0features? They could use their knowledge\u00a0or experience of\u00a0the industry, but no matter how insightful they are, it's still very possible to miss something or get it wrong. These errors can be expensive and do irreparable damage to the company's market position and financial well-being. Rather than operating with a \"best guess\" approach, companies use market research to determine what consumers want. In this next section you will learn about the process for market research, how companies use the information gained, and how technology is influencing this process.\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading: Using Market Research to Understand Consumers<\/li>\r\n\t<li>Reading: The Market Research Process<\/li>\r\n\t<li>Video:\u00a0Market Research in \"Real Time\"<\/li>\r\n\t<li>Self Check: Market Research<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do:\u00a0describe the process for and purpose of market research<\/h2>\n<p>Where do companies come up with the ideas for their new products, goods, and services? How do they determine whether\u00a0they need to change the packaging of their product, reduce the price, or add new\u00a0features? They could use their knowledge\u00a0or experience of\u00a0the industry, but no matter how insightful they are, it&#8217;s still very possible to miss something or get it wrong. These errors can be expensive and do irreparable damage to the company&#8217;s market position and financial well-being. Rather than operating with a &#8220;best guess&#8221; approach, companies use market research to determine what consumers want. In this next section you will learn about the process for market research, how companies use the information gained, and how technology is influencing this process.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: Using Market Research to Understand Consumers<\/li>\n<li>Reading: The Market Research Process<\/li>\n<li>Video:\u00a0Market Research in &#8220;Real Time&#8221;<\/li>\n<li>Self Check: Market Research<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-501\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Linda Williams and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":78,"menu_order":9,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"2eed0662-6128-4c4a-b8ad-eb956a1eff1f","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-501","chapter","type-chapter","status-publish","hentry"],"part":92,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/users\/78"}],"version-history":[{"count":17,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/501\/revisions"}],"predecessor-version":[{"id":5125,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/501\/revisions\/5125"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/92"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/501\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/media?parent=501"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapter-type?post=501"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/contributor?post=501"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/license?post=501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}