MKT 571 Week 5 DQ's - 16199

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MKT 571 Week 5 DQ's

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DQ 1:

Market research has a vital role to provide market information to guide efforts to develop new products within a company. Information such as the desired properties and functionality, the potential market size, market life, barriers to market entry and potential competition can be generated by market research. Technologists tend to believe that information technology is the development of more valuable products, and therefore, did not play a more active role in the process of market research. Without knowledge of the market, the technology has little value. The arrows are the development of new products or improve existing products, and the goal is what our customers really want or need. In order to have a proper aim, we need to know where and what is the goal. "For example, consider the development of layer architecture for use inside a house. It is necessary to know what colors the owners want at home and what features are important to them, maybe its ease of use, gloss, durability, low odor, special effects, or something completely different. If a company produces a product without collecting this information, would be unlikely to advise that consumers buy the paint.