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Research supports to know current and future needs of a market

Subject: Marketing Channel Management

Paper Model: APA

Paper Type: Assignment

Total Words: 300

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Document Outline

Journal entry number: 1
Week: 5
Insight:
Elaboration of insight:
Application of this insight


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Journal entry number: 1

Week: 5

Insight:

Research supports to know current and future needs of a market.

Elaboration of insight:

Research and development is an important part for the organization to about the characteristics of the market place. This helps ion to recognize the market opportunity that how to cater the changing environment of the market place. The product design and specification are recognized through the research and development of the market. The identification of the market needs and wants are necessary for the company to know about the volume and distribution of the products according to the target market. Research helps for the companies to implement the creative and innovation in the product category, extension of product line and improvement in the service escape. This research defines the point of differentiation through continuous innovation and creation in the market place.


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