Market research in the context of Frost


Market research in the context of Frost

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⭐ Core Definition: Market research

Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.

It includes social and opinion research, and is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.

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Market research in the context of White-collar workers

A white-collar worker is a person who performs knowledge-based, aptitude-based, managerial, or administrative work generally performed in an office or similar setting. White-collar workers include job paths related to banking, finance, compliance, legal, risk management, internal audit, data privacy, cybersecurity, insurance, government, consulting, academia, accountancy, business and executive management, customer support, design, economics, science, technology, engineering, market research, human resources, operations research, marketing, public relations, real estate, information technology, networking, healthcare, architecture, and research and development.

In contrast, blue-collar workers perform manual labor or work in skilled trades; pink-collar workers work in care, health care, social work, or teaching; green-collar workers specifically work in the environmental sector; and grey-collar jobs combine manual labor and skilled trades with non-manual or managerial duties.

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Market research in the context of Statistical survey

Survey methodology is "the study of survey methods".As a field of applied statistics concentrating on human-research surveys, survey methodology studies the sampling of individual units from a population and associated techniques of survey data collection, such as questionnaire construction and methods for improving the number and accuracy of responses to surveys. Survey methodology targets instruments or procedures that ask one or more questions that may or may not be answered.

Researchers carry out statistical surveys with a view towards making statistical inferences about the population being studied; such inferences depend strongly on the survey questions used. Polls about public opinion, public-health surveys, market-research surveys, government surveys and censuses all exemplify quantitative research that uses survey methodology to answer questions about a population. Although censuses do not include a "sample", they do include other aspects of survey methodology, like questionnaires, interviewers, and non-response follow-up techniques. Surveys provide important information for all kinds of public-information and research fields, such as marketing research, psychology, health-care provision and sociology.

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Market research in the context of Marketing

Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of business management and commerce.

Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination.

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Market research in the context of Publishing house

Publishing is the process of making information, literature, music, software, and other content, physical or digital, available to the public for sale or free of charge. Traditionally, the term publishing refers to the creation and distribution of printed works, such as books, comic books, newspapers, and magazines to the public. With the advent of digital information systems, the scope has expanded to include digital publishing such as e-books, digital magazines, websites, social media, music, and video game publishing.

The commercial publishing industry ranges from large multinational conglomerates such as News Corp, Pearson, Penguin Random House, and Thomson Reuters to major retail brands and thousands of small independent publishers. It has various divisions such as trade/retail publishing of fiction and non-fiction, educational publishing, and academic and scientific publishing. Publishing is also undertaken by governments, civil society, and private companies for administrative or compliance requirements, business, research, advocacy, or public interest objectives. This can include annual reports, research reports, market research, policy briefings, and technical reports. Self-publishing has become very common.

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Market research in the context of Focus group

A focus group is a group interview involving a small number (sometimes up to twelve) of demographically predefined participants. Their reactions to specific researcher/evaluator-posed questions are studied. Focus groups are used in market research to better understand people's reactions to products or services or participants' perceptions of shared experiences. The discussions can be guided or open. In market research, focus groups can explore a group's response to a new product or service. As a program evaluation tool, they can elicit lessons learned and recommendations for performance improvement. The idea is for the researcher to understand participants' reactions. If group members are representative of a larger population, those reactions may be expected to reflect the views of that larger population. Thus, focus groups constitute a research or evaluation method that researchers organize to collect qualitative data through interactive and directed discussions.

A focus group is also used by sociologists, psychologists, and researchers in communication studies, education, political science, and public health. Marketers can use the information collected from focus groups to obtain insights on a specific product, controversy, or topic. U.S. federal agencies, such as the Census Bureau for the 2020 decennial census, also use the focus group method for message testing purpose among diverse populations.

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Market research in the context of Big Four accounting firms

The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with Fortune 500 companies.

The Big Four all offer audit, assurance, taxation, management consulting, valuation, market research, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of public companies, as well as many audits of private companies, are conducted by these four networks. Until the late 20th century, the market for professional services was dominated by eight networks which were nicknamed the "Big Eight". The Big Eight consisted of Arthur Andersen, Arthur Young, Coopers & Lybrand, Deloitte Haskins and Sells, Ernst & Whinney, Peat Marwick Mitchell, Price Waterhouse, and Touche Ross.

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Market research in the context of WPP plc

WPP plc is a British multinational communications, advertising, public relations, technology, and commerce holding company headquartered in London, England. It is the world's largest advertising company, as of 2023. WPP plc owns many companies, which include advertising, public relations, media, and market research networks such as AKQA, Burson, Hogarth, Landor, Ogilvy, VML, and WPP Media (EssenceMediacom, Mindshare, Wavemaker, choreograph and more). It is one of the "Big Three" agency companies, alongside Publicis and Omnicom. WPP has a primary listing on the London Stock Exchange, and is a constituent of the FTSE 100 Index.

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Market research in the context of Venture capital

Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and often come from high technology industries such as information technology (IT) or biotechnology.

Pre-seed and seed rounds are the initial stages of funding for a startup company, typically occurring early in its development. During a seed round, entrepreneurs seek investment from angel investors, venture capital firms, or other sources to finance the initial operations and development of their business idea. Seed funding is often used to validate the concept, build a prototype, or conduct market research. This initial capital injection is crucial for startups to kickstart their journey and attract further investment in subsequent funding rounds.

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Market research in the context of Euromonitor

Euromonitor International Ltd is a London-based market research company founded in 1972.

The firm is well regarded, and its research database has been described as the "Cadillac of industry information sources", but subscriptions have been described as too expensive for some institutions.

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Market research in the context of News Corp Australia

News Corp Australia is an Australian media conglomerate and wholly owned subsidiary of News Corp.

The group's interests span newspaper and magazine publishing, Internet, market research, DVD and film distribution, and film and television production trading assets. News Pty Ltd (formerly News Limited) is the holding company of the group.

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