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! (: