Business Research Essay
“Market research Is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services” (Bradley). Qualitative means a distinction based on some quality or characteristic rather than on some quantity or measured value which is exactly what quantitative means. Quantitative Is Information based In quantities such as quantifiable market research data.
The main definition of market research is the process of gathering, analyzing and interpreting information about a market, about a reduce or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research Into the characteristics, spending habits, location and needs of your business’s target market, the Industry as a whole, and the particular competitors you face. SIS International Research is a leading global Market Research ; Market Intelligence firm providing comprehensive research services and strategic analysis of Information. They have served many of the world’s largest and most influential companies. Serving over 70% f the Fortune 500″ (About SIS). SIS stands for Strategic Intelligence Systems, Inc. Was founded on Madison Avenue by Ruth Stand in New York City as a database market research company In 1984.
The company capitalized on
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In 2004 Ruth Stand was named a guru of the global economy, alongside Bill Gates and Peter Trucker. SIS adopted and trademarked its slogan “Navigate the Global Economy”. The company launched the Market Intelligence Journal for company analysts to discuss their insights and market research trends in 2007. This company has well over a hundred clients and counting such as Allocate Insurance, American Airlines, Apple, AT&T, Babies ‘R us, Campbell Soup Company, Coca-Cola Foods, Coors, Faded, Hershey Foods Corporation, Mary Kay Cosmetics Ltd. Wall-Mart and much more. They have A-Z expertise in business research such as selected experience in the alcoholic beverage industry. They conduct test such as a global online survey on attitudes and behavior towards wine. A quantitative study was made among Hispanics living In Los Angles, Chicago and Houston in order to test four different alternatives of packages for a new product concept for beer in US. They also conducted focus groups in several Asian countries or cognac drinkers.