Marketing research for strategic decision making

There are 2 most common applications of market research: diagnostic analysis, necessary to understand the market and assess the current activities of the organization, as well as analysis of opportunities-to identify all previously unused, as it may sound funny, opportunities.

Marketing research deals with forecasts, the study of consumers and their behavior-thought that this is all? No, it's only the most superficial. There are also "hidden from the public" operations whose names are frightening: semantic scaling, multidimensional scaling, intelligence research and collaborative analysis — and this is not the end of the list of horrors in marketing definitions.

Probably about the research of intelligence is not worth telling, but to shed light on the less obvious points is necessary, because they're not that terrible:

- Semantic scaling: assessing how consumers perceive the" tangible " attributes of a product, as well as calculating its ideal ergonomic parameters and properties. SM is not a very accurate procedure as it uses subjective ratings and ratings.

-Multidimensional scaling: it solves the problems associated with SEE through consumer surveys. Typically, these surveys are paired comparisons between the product and the "ideal" version of it.

- Collaborative analysis: identifies the importance of the most sought-after attributes of the product and learns from people what combination is the most preferable. This is usually about design and packaging.

Any self-respecting company, which contains a marketing Department in its office, can not do without these studies — we keep in the know.