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Identify The Significant Changes Taking Place In Today's Business Environment That Are Forcing Management Decision Makers To Rethink Their Views Of Marketing Research.

1335 words - 5 pages

Nowadays business environment has caused various kinds of changes that lead management decision makers to reorganize their marketing research analysis and restructure their marketing research process. Marketing research has been played an important role in all the organization to guide the organization to the way of success. Marketing department in a company is not only responsible in doing the marketing mix which includes price, place, promotion and product, but also investigates what is the needs and wants from the consumers and how can the organization satisfy the consumers' prospect. However, to be aware and deal with the obstacles that keeps occur in the business environment, is very important for organization to understand the importance of marketing research and cope with the changes in today's business environment. The changes include consumer taste, globalization, technological changes and large amount of information.Changes taking place in today's business environmentConsumer TasteFirstly, the consumers' taste has been one of the obstacle and changes that take place in nowadays business environment. ‛The problem is too big to be dealt at the level of the consumer' (Chatzidakis et al. 2007, 92). Consumer taste have been changing and continue changing while the time passing. No matter how good is a products and services has been produce due to the customer's demand, consumers will still ask for a better one and lead the marketing department to focus on the changes of the consumers' taste. As stated by Tom McCarthy (2008) ‛if you look back at the market and consumer taste in the early '80s, one would have to say that it was ripe for significant change in styling, a very significant change in consumer taste'. In this case, we can see that consumer taste has leaded the organization to change accordingly to in the term of changing in its product's styling. With this, consumers' behaviour, taste, perception, and favourite ought to be aware of in developing and promoting new product into the market. While planning for the marketing structure and policies, management decision makers need to identify the internal environment like competitors, suppliers and consumers and external environment like social culture, technologies, economics and political issues before the products and services will be published.GlobalizationBesides consumers' behaviour, globalization has been one of the biggest issues that impact the marketing research activities. Management decision makers need to understand the changing global environment before marketing research will be conduct. Due to the complexities of conducting and managing market research projects across national boundaries, many factors exist that, if not adequately addressed, can negatively impact project management and, consequently, project deliverables (Young and Javalgi 2007, 117). For example, Mc Donald's in India, as stated by Amit Jatia (2007), ‛it is the only country in the world...

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