{"id":17848,"date":"2013-05-07T13:19:29","date_gmt":"2013-05-07T07:49:29","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=17848"},"modified":"2024-04-12T14:15:14","modified_gmt":"2024-04-12T08:45:14","slug":"market-research-2","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/","title":{"rendered":"Market Research"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a ref=\"magnificPopup\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"400\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png\" alt=\"Market Research\" class=\"wp-image-99024\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png 750w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70-300x160.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/figure><\/div>\n\n\n<h3><strong>Market Research<\/strong><\/h3>\n<p>Here are some simple methods which can be used to do quick and meaningful market research:<\/p>\n<ul>\n<li>Talk to your current buyers about changing buying patterns and products which are needed to fill gaps in the market<\/li>\n<li>Use the Internet and\/or directories to research market profiles, culture, economic conditions, pricing of competing products, similar products manufactured locally in target market and potential trading partners in new target markets<\/li>\n<li>Define your company&#8217;s industry (e.g. giftware, furniture, fashion or accessories) and refer to industry publications (including free\/on-line publications available by signing up) for trends, cultural, legal, technology and global issues<\/li>\n<li><span style=\"line-height: 1.714285714; font-size: 1rem;\">Contact Chambers of Commerce and Business Associations in the target market for information on local enterprises who could be buyers\/importers and partner organizations.<\/span><\/li>\n<\/ul>\n<p>It is an organized effort to gather information about target markets\u00a0and customers: know about them, starting with who they are.<sup id=\"cite_ref-MyResearchBway.NYT_1-0\" class=\"reference\"><\/sup>\u00a0It is a very important component of\u00a0business strategy<sup id=\"cite_ref-McQuarrie_2-0\" class=\"reference\"><\/sup>\u00a0and a major factor in maintaining\u00a0competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both\u00a0qualitative\u00a0techniques such as focus groups, in-depth interviews, and ethnography, as well as\u00a0quantitative\u00a0techniques such as customer surveys, and analysis of secondary data.<\/p>\n<div class=\"apply\">It includes social and opinion research, and is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.<\/div>\n<div>It is a way of getting an overview of consumers&#8217; wants, needs and beliefs. It can also involve discovering how they act. The research can be used to determine how a product could be marketed. Peter Drucker believed,<sup id=\"cite_ref-16\" class=\"reference\"><\/sup>\u00a0market research to be the quintessence of marketing. Market research is a way that producers and the marketplace study the consumer and gather information about the consumers&#8217; needs. There are two major types of market research: primary research, which is sub-divided into\u00a0quantitative\u00a0and\u00a0qualitative\u00a0research, and\u00a0secondary research.<\/div>\n<div>\u00a0<\/div>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.vskills.in\/practice\/foreign-trade\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"150\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-59.png\" alt=\"Certified Export Import Foreign Trade Professional\" class=\"wp-image-94229\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-59.png 960w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-59-300x47.png 300w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/certified-export-import-foreign-trade-professional\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Research Here are some simple methods which can be used to do quick and meaningful market research: Talk to your current buyers about changing buying patterns and products which are needed to fill gaps in the market Use the Internet and\/or directories to research market profiles, culture, economic conditions, pricing of competing products, similar&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[85],"tags":[6720,2254],"class_list":["post-17848","page","type-page","status-publish","hentry","category-export-import","tag-foreign-trade","tag-market-research"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Research - Tutorial<\/title>\n<meta name=\"description\" content=\"Learn more about Market Research. Make your resume stand out and become an Export Import Foreign Trade Professional with free test papers!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Research - Tutorial\" \/>\n<meta property=\"og:description\" content=\"Learn more about Market Research. Make your resume stand out and become an Export Import Foreign Trade Professional with free test papers!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Tutorial\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-12T08:45:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/\",\"name\":\"Market Research - Tutorial\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png\",\"datePublished\":\"2013-05-07T07:49:29+00:00\",\"dateModified\":\"2024-04-12T08:45:14+00:00\",\"description\":\"Learn more about Market Research. Make your resume stand out and become an Export Import Foreign Trade Professional with free test papers!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#primaryimage\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png\",\"width\":750,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Research\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\",\"name\":\"Tutorial\",\"description\":\"Vskills - A initiative in elearning and certification\",\"publisher\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/tutorial\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#organization\",\"name\":\"Vskills\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg\",\"width\":73,\"height\":55,\"caption\":\"Vskills\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/vskills.in\/\",\"https:\/\/x.com\/vskills_in\",\"https:\/\/www.linkedin.com\/company-beta\/1371554\/\",\"https:\/\/www.youtube.com\/channel\/UCMWnscxPwRF_PqXo9B7q_Tw\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Market Research - Tutorial","description":"Learn more about Market Research. Make your resume stand out and become an Export Import Foreign Trade Professional with free test papers!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/","og_locale":"en_US","og_type":"article","og_title":"Market Research - Tutorial","og_description":"Learn more about Market Research. Make your resume stand out and become an Export Import Foreign Trade Professional with free test papers!","og_url":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/","og_site_name":"Tutorial","article_publisher":"https:\/\/www.facebook.com\/vskills.in\/","article_modified_time":"2024-04-12T08:45:14+00:00","og_image":[{"url":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png","type":"","width":"","height":""}],"twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/","url":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/","name":"Market Research - Tutorial","isPartOf":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#primaryimage"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png","datePublished":"2013-05-07T07:49:29+00:00","dateModified":"2024-04-12T08:45:14+00:00","description":"Learn more about Market Research. Make your resume stand out and become an Export Import Foreign Trade Professional with free test papers!","breadcrumb":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#primaryimage","url":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png","contentUrl":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-70.png","width":750,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/market-research-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vskills.in\/certification\/tutorial\/"},{"@type":"ListItem","position":2,"name":"Market Research"}]},{"@type":"WebSite","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#website","url":"https:\/\/www.vskills.in\/certification\/tutorial\/","name":"Tutorial","description":"Vskills - A initiative in elearning and certification","publisher":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vskills.in\/certification\/tutorial\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#organization","name":"Vskills","url":"https:\/\/www.vskills.in\/certification\/tutorial\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/","url":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg","contentUrl":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg","width":73,"height":55,"caption":"Vskills"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/vskills.in\/","https:\/\/x.com\/vskills_in","https:\/\/www.linkedin.com\/company-beta\/1371554\/","https:\/\/www.youtube.com\/channel\/UCMWnscxPwRF_PqXo9B7q_Tw"]}]}},"_links":{"self":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages\/17848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/comments?post=17848"}],"version-history":[{"count":8,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages\/17848\/revisions"}],"predecessor-version":[{"id":99025,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/pages\/17848\/revisions\/99025"}],"wp:attachment":[{"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/media?parent=17848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/categories?post=17848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/tutorial\/wp-json\/wp\/v2\/tags?post=17848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}