The Importance of Market Research Paper Example | Topics and Well Written Essays - 1000 words

The Importance of Market - Research Paper Example The focal company in this task is Verizon Wireless that in the telecommunications industry. There are different strategies that Verizon uses and I will analyze each one of them. One it deals with product research this it ensures that clients have different varieties to choose from and this is important as it ensures that clients have enough choice. This helps boost taste and preference of the employees and it is also important to note that in product research a lot of analyzes are done to ensure that the business can stand diversification (Austin, 2013). For a product to be set up to a final entity a lot has to be done and research and development come into place. This brings out the question that also marketing research is included for Verizon products. For example the new offer that will keep the telecommunications customers have to be influenced by conducting marketing research to identify the best suitable offer. It is not only the idea of choosing whether to use marketing research it is important but the best method of marketing research. It is important to ask whethe r to use survey, personal interview, observation and free trials. These are best regulated by the cost which they will incur and what is the best effective way. Verizon wireless cannot also ignore the importance of using advertising research. It is important to note that consumers need to receive information about a product and the company they are following closely as this will be important to further their agenda in progress and also help in receiving feedback. Verizon wireless been in the communication industry has to be up to date with any new changes and see to it they have adjusted this will ensure some new sanity to the firm and its client. The art of communication cannot be complete without the root to feedback as this is what ensures that what was accessed by the viewers was received by the targeted or focus group (Victoria,