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Market Research and research proposal and Literature review.

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You are requiredto prepare a research proposal outline and associated literature review that will inform and design and structure which is the final assessment . Please download the attached file....

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Question Preview:

You are requiredto prepare a research proposal outline and associated literature review that will inform and design and structure which is the final assessment . Please download the attached file.

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Solution Preview

Market research is considered as the most important activity that helps the business organisation to collect necessary information about the potential target market and its customers. It is one of the most important components for the marketing paradigm and plays an important role in the business strategy. The success of a product is deepened on the research and it helps the business organisation to create competitiveness for the long term success over its competitors. It helps the business organisation to gather information about need of market, customers, size of market and number of competitors in the market. The major pillars on which marketing resides are four Ps as product, place, price and promotion.  All these pillars need to be implemented in an integrated manner for the success of the new product in the market (Hague, Hague and Morgan, 2004).

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