I am a business major and I find this chapter interesting
because its business related. One of the topics that the book covers is
marketing research. There are three components when we conduct marketing
research, which are surveys, observations and experimentation. Marketing research can help the company to
learn more about their targeted group of consumers. Surveys are the most direct
way to get in touch with consumer’s preference. Company or marketing firm
usually conduct surveys by email, websites, phone calls, or in person survey.
Observation is a method to monitor consumer’s buying preferences. We can easily
find out their preferences by converting the result from observation to sets of
data. Experimentation is a method to observe the effects when the variables of
a product are being changed. Marketing research is only good for learning what
products have the most chance to succeed in that market; however, it does not
guarantee 100% success to that particular product. Even though it can only
predict an approximate result, companies still use marketing research for their
own reference.
Thank you for reading! (:
Hi Adrian Yan,
ReplyDeleteI also thought this chapter was interesting! I am not a business major, but do like reading about it. I think that taking surveys is a good idea for marketing research; however, I like the online surveys more than phone surveys. I think that phone surveys are an ineffective way of marketing research because people always seem bothered to answer them. Even through experience, I have no problem taking online surveys but hate when people call to do surveys. I like that you also mentioned observation and experimentation. I think that these two ways of marketing research are very helpful, especially in seeing what people like to purchase and predicting what else they would like.
Hi Adrian Yan,
ReplyDeleteI have not read a post written by you this semester but this one really impressed me. I now believe due to your explanation of Marketing Research that you are in fact a business major. I was impressed with your ability to expand on the explanation provided by the book. I can tell you know you marketing and you really help in solidifying what the book was trying to relate to us the readers. I liked how you when piece by piece and how they worked with each other to result in what products might be successful in a given area. I also agree with you that surveys might be one of the best ways in gaining meaningful market research. Thanks for the well written post.
Heisenberg.
Hey Adrian!
ReplyDeleteI just like you are a business major so this chapter fit right in with what I am interested in, especially as you explained the marketing research. I feel your explanation of the topic was well thought out and well written. I like how you laid out marketing researchers jobs by basically having the 3 major events, Surveys, Observations and lastly Experimentation. The process of marketing research is just like any other research for a science. They basically work off the same principals of the scientific method. With this it makes it simple for business man to follow a simple process to get the results they are looking for.
- Mike ross