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Royal University of Phnom Penh Institute of Foreign Languages English Department

Royal University of Phnom Penh Institute of Foreign Languages English Department. Communication Skills 402 Presentation Topic: Market Research Lecturer: Hor Soknak Group IV: Ing Ramy, Ly Tolarith, Meas Saim, Keo Ratanatepy, Phorn Sireivichet and Sou Sotheany. I. Market Research Definition

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Royal University of Phnom Penh Institute of Foreign Languages English Department

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  1. Royal University of Phnom PenhInstitute of Foreign LanguagesEnglish Department Communication Skills 402 Presentation Topic: Market Research Lecturer: Hor Soknak Group IV: Ing Ramy, Ly Tolarith, Meas Saim, Keo Ratanatepy, Phorn Sireivichet and Sou Sotheany

  2. I. Market Research Definition • Market research is the collection and analysis of information • market research allows businesses to make decisions

  3. II. Purpose of conducting a market research • Changes in the product rangesof competitors • Gain a more detailed understanding of consumers’ needs • Reduce the risk of product/business failure • Forecast future trends

  4. III. Characteristics of a good market research • Work out what information you need before you start • Determine where the information is • Decide how you will process the information • Implement your market research plan • Secondary information sources for market research

  5. IV. How to conduct a market research 4.1 Defining the problem and purpose • Expected problems • Accidental problems • New created ideas

  6. 4.2 Analysis of the situation: informal survey from information available about problem area. • Understand self company’s strength and weakness • Know the competitors • Gather useful economic information in a period of time

  7. 4.3 Obtaining data that is specific to the problem • Clear purpose and objectives • Appropriate research method(s) • Well organized questions • Value of Information

  8. 4.4 Analysis and interpreting the data • Qualitative • Quantitative approach 4.5 Fostering ideas and problem solving • Check the data and your plan • Find solution for the problems that are the problems for your market

  9. 4.6 Developing marketing plan • Make a plan for your market • How effective your market plan • Checking

  10. V. The Challenges of the market research • “How and Why” and “who and what” • “Proliferation”: the sense that market research becomes big business • “Relevancy”: how the market research and customers be relevance. VI. Conclusion

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