If the research budget is limited, there is no need to conduct Essay

If the research budget is limited, there is no need to conduct marketing research - Essay Example This essay discusses that as marketing research is important in the successful promotion of the products/service of an organisation, it must be given due consideration. It is inevitable for an organization to allot a separate budget for marketing research. Undoubtedly, an organisation that desires to thrive in the field can never say excuse for having not enough funds. As far as an organisation is concerned, market research is conducted not only for learning purpose but also for flawless decision making process. It is on the basis of the information gathered through research an organization decides whether or not to make changes in the existing product line. To illustrate, a well conducted research would propose multiple options for introducing new product line or entering into new markets. Apart from obtaining new customers, more importance must be given for retaining the existing customers. Long term loyalty and relationship between the organisation and the customers are not just d eveloped on a single day. They are the result of strenuous efforts made by the organisation by closely understanding the needs and preferences of the customers. Moreover, the data collected through market research can help marketers to make decision on product quality or services expansion. It may result in introducing more innovative product or redesigning the marketing strategy. Similarly, the potential problems associated with launching a new product can also be identified through marketing research. If the probable difficulties are known in advance, firms can take steps to address them on time. The research conducted after a product launch will help the firm to determine further steps. According to Malhotra & Dash (2009, p.45), Marketing research helps an organisation to know the demographics and psychographics of customers. It reveals the number of persons who buy the products, why they buy, when they buy, the frequency of their buying, and the sources of their buying; and it a lso includes the social status and the regional location of the customers (ibid). As market research bring out information regarding age, sex, population, buying behavior, and location, firms can easily determine whether to change their market segments or business destinations to more favorable ones. In the absence of such a study, taking flawless decisions is unlikely. Marketing research is one of the best ways of knowing the strategies of competitors, their identity, marketing network, scale of focus and many more. It is important for a business firm to observe how its rivals carry out business as it evaluates its own progress or loss. By imitating the competitors on an equal scale, one can retaliate on the same manner as the competitors do. These actions would help the firm not only to improve the product quality but also to obtain prospective customers for the organisation. Marketing research can sometimes be used as an evaluation tool which may help in making comparative studie s so that the organization can track its own progress over a period of time. In addition, in some occasions marketing research helps to explore what went wrong. For example, Johnson & Johnson Company probed into the poisoning of their capsules

IT Systems Case Study Assignment Example | Topics and Well Written Essays - 1000 words

IT Systems Case Study - Assignment Example The institutional archives manager at Campus A learned the tough way that he could not inactively wait till electronic records were conveyed to his office for long-standing access and retention. A research of the records at the campus, aided by the National Historical Publication and Records Commission grant, discovered that over 90 percent of the data sets did not have adequate documentation, hence making archival evaluation impossible (Kahn, 2000, 332). Campus B The archives department at Campus B opted for a method to handling electronic records, which was extremely diverse from Campus A’s. Rather than working with groups all through the university system, the archives department opted to work with a minute group of mainly external experts on creating an electronic-record policy (Kahn, 2000, 336). The challenge to this is that it left out vital departments of the institution meaning that the final policy did not incorporate every department’s view about the endeavor (Kahn, 2000, 337). Also, the campus had limited resources unlike Campus A, which opted to use all the resources they could together for the endeavor. Unlimited resources translated into unlimited support for the system. Strategic Responses to the Challenges Campus A In response to the campus’ IT report, the institution archives director begun by strengthening internet record management in his office and also by seeking the assistance of relevant and significant offices and departments all round the institution. He also started to make use of a new budget-management scheme, which rewarded record-management endeavors all through the university system (Kahn, 2000, 334). The director’s initial move to deal with this problem was to add the role of electronic-record management to the archives department. The appointment of the electronic-record administrator in the archives department was a departure from normal practice whereby record management was housed in an administrat ive scheme. Campus B The archives department allocated a majority of its internal budget resources and a US$130,000 national grant for creating a conceptual strategy for managing electronic records (Kahn, 2000, 335). The money was largely used to recruit a small team and pay faculty to oversee pilot record-management plans and create policy. The archives department director also hired a counseling board which included national specialists in the field of electronic-record management. Just two people in the institution’s hierarchy—a university personnel director, as well as a university information resources administrator—were included on that board (Kahn, 2000, 336). This would assist the campus to come to grips with the policy and management concerns surrounding electronic records. Social Action Theory Social action, in sociology, is an act that considers the actions and reactions of people (or 'agents'). Max Weber considers that "an Action is 'social' if the p erforming person considers the behavior of others and is thus oriented in its course. Campus A Campus A’s archives department is situated at the library adjacent to the geographic center of the main campus. The department is in walking distance to several university