The document discusses market research and its process. Market research involves collecting, processing, analyzing and evaluating data about target markets, products, services, competitors and consumers. It aims to provide usable business information by understanding who the target audience is, their needs, wants, potential sales geographies, distribution channels, reasons for wanting a product, competitors, and the market environment. Market research can help answer these questions and determine how to make products more attractive, understand regulations, and decide the best market entry strategy. Examples provided show how market research can assess market opportunities for new products and test if consumers view a product as superior to competitors. It can also determine if a market can generate expected product volumes.

2. The Market Research Process
1.Data Collection
2.Data Processing
3.Data Analysis
4.Information
Evaluation
5.Client
Presentation

3. Market research is a process of gathering,
analyzing and interpreting raw data about
target market, product or service, competitor
and about past, present and potential
consumers to derive usable business
information.

4. What Questions Can Be Answered Through Market Research
 Who are my target audience?
 What do they need?
 What are their wants?
 Which geographies have sales potentials?
 What can be the distribution channel?
 Why they will need/want my product and
service?
 Who will be our competitors?
 How's the market environment?

5. What Questions Can Be Answered Through
Market Research? Continued.....
 What can I do to make my product and service more attractive?
 What are Government rules and regulations in my target market?
 What is the best entry strategy for my target Market?

6. Cases Where Market Research Can Be Used.
Case 1: We( foreign manufacturer) want to know if
there is a market in India for electronic products
which operates on alternative energy systems. can
you tell us?
Research Solution: In case an opportunity assessment
study will be conducted to find out if there is a market in
India for targeted products i.e. products which operate on
alternative energy systems.

7. Cases Where Market Research Can Be Used.
Case 2 : I have a product which is superior to the
products currently available in the market. Can you
test and tell me if consumers also think so?
Research Solution: In this case a product testing study will
be conducted to find out how the targeted product fares in
the market against its competitors

8. Cases Where Market Research Can Be Used.
Case 3 : I can launch this product only if it
can manage 'X' volumes. Can you do a research
and tell me it would generate 'X‘ volumes?
Research Solution: In this case a market research
study will be conducted to find out if that market will
be able to meet expectations in terms of demand for
target product.

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