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Unit 4 Assignment: Learning From the Experts-The Importance of Market

Unit 4 Assignment: Learning From the Experts-The Importance of MarketResearchIn your Marketplace Simulation game play today, you will be concentrating on growth options andusing market research to help you in your decision making. Bont and Hamersveld (2007) tell us“Today, organisations, when making key decisions, are mindful of the importance of ensuring thatthey understand the views and opinions of current and potential customers and know whatcompetitors are doing in the marketplace” (p.3).Understanding the role of market research and the many methods for conducting market research willbe valuable for your work in this class and others in your program. Learning from Subject MatterExperts (SME) in market research is the focus of this week’s Assignment and Discussion.For this Assignment you will be:? Reviewing the information in this week’s readings and sources you identify in your ownresearch.? Identifying areas about market research that are particularly interesting to you or that youwould like to know more about.? Creating a set of 3-6 questions using the information you have gained in your readings andresearch that will help you gain a greater understanding of these areas.? Identifying a market research professional or a company where a representative can talk toyou in more detail about the market research process. For some ideas on how you canidentify a market research professional or company view the short video:http://extmedia.kaplan.edu/business/Media/GB500/u4/GB500_u4assignment.html? Talk with your current employer and see if there is a department in your company thatperforms this function.? Talk with family and friends? Use the social media and networking sites, i.e., Facebook and LinkedIn, etc.? Look for companies that conduct market research and contact them? Contact your local Chamber of Commerce and get referrals? Conducting an interview with a market research professional or a company representative.? Using the results of this research to determine how it can be applied to the MarketplaceSimulation.You will post the results of your work in a 3-4 page APA formatted paper, not including cover andreference page, to your Unit 4 Discussion Board by Saturday night.

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