Open AccessConducting Market Research: An Aid to Organisational Decision Making
Author(s) -
Remy Nyukorong
Publication year - 2017
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2017.v13n10p1
Subject(s) - order (exchange) , principal (computer security) , marketing , business , quality (philosophy) , market research , process (computing) , marketing research , verifiable secret sharing , value (mathematics) , diversity (politics) , core (optical fiber) , knowledge management , computer science , political science , telecommunications , philosophy , set (abstract data type) , finance , epistemology , machine learning , law , programming language , operating system
As firms grow more and more in global markets, the role of reliable, verifiable, timely and high quality marketing research information to support decision-making becomes increasingly indispensable. The effectiveness and usefulness of decision-making is directly connected to the broad condition of the preferred sector(s) of the global market. To obtain complete information regarding the market entails designing and completing a significant number of activities arranged in logical sequence. Marketing research is the principal means by which firms comprehend existing and potential customers. Thus, this conceptual paper proposes a framework for accomplishing global market research ventures. In addition, the paper outlines a number of factors that should be taken into consideration by scholars who engage in global market research ventures. The factors represent the diversity of challenges that should be focussed on in conducting research globally. Specific attention is given to the nuances linked to data collection and analysis. Taking cognisance of the above, the informational core in the management of global firms should be assessed according to its value and role in world-wide marketing management. Lastly, technological advances should be integrated into the market research process in order to ease and accelerate research performed across national borders.