{"id":46575,"date":"2025-11-19T14:01:30","date_gmt":"2025-11-19T14:01:30","guid":{"rendered":"https:\/\/certifeka-edu.com\/programs\/strategic-planning-professional-certificate-4\/lessons\/lesson-3-market-research-definition-5\/"},"modified":"2025-11-19T14:01:30","modified_gmt":"2025-11-19T14:01:30","slug":"lesson-3-market-research-definition-5","status":"publish","type":"lesson","link":"https:\/\/certifeka-edu.com\/ar\/programs\/strategic-planning-module\/lessons\/lesson-3-market-research-definition-5\/","title":{"rendered":"Lesson 3: Market Research definition"},"content":{"rendered":"<p><img decoding=\"async\" width=\"96\" height=\"114\" src=\"https:\/\/certifeka-edu.com\/wp-content\/uploads\/2025\/04\/logos-png-01-296x57-1.png\" alt=\"\" srcset=\"https:\/\/certifeka-edu.com\/wp-content\/uploads\/2025\/04\/logos-png-01-296x57-1.png 96w, https:\/\/certifeka-edu.com\/wp-content\/uploads\/2025\/04\/logos-png-01-296x57-1-10x12.png 10w, https:\/\/certifeka-edu.com\/wp-content\/uploads\/2025\/04\/logos-png-01-296x57-1-42x50.png 42w\" sizes=\"(max-width: 96px) 100vw, 96px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<h2>Lesson 3: Micro Environmental scanning<\/h2>\n<h3 style=\"text-align: center;\">Market Research definition<\/h3>\n<h5>Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with potential consumers.<\/h5>\n<h5>This method allows organisations or businesses to discover their target market, collect and document opinions and make informed decisions. Market research can be conducted directly by organisations or companies or can be outsourced to agencies that have expertise in this process.<\/h5>\n<h5>The process of market research can be done through deploying surveys, interacting with a group of people also known as samples, conducting interviews, and other similar processes.<\/h5>\n<h5>Primary purpose of conducting market research is to understand or examine the market associated with a particular product or service, to decide how the audience will react to a product or service.<\/h5>\n<h5 style=\"color: #000080;\">The information obtained from conducting market research can be used to tailor marketing\/ advertising activities or to determine what are the feature priorities\/service requirement (if any) of consumers.<\/h5>\n<h5>Intermediate, studies of small- and medium-sized businesses reveal that the greater the level of planning intensity, as measured by the presence of a formal strategic plan, the greater the level of financial performance, especially when measured in terms of sales increases.<\/h5>\n<h5>Planning the strategy of large, multidivisional corporations can be complex and time consuming. It often takes slightly more than a year for a large company to move from a situation assessment to a final decision agreement.<\/h5>\n<h4 style=\"text-align: center;\">Three key objectives of market research<\/h4>\n<h4 style=\"text-align: center;\">A market research project may usually have 3 different types of objectives.<\/h4>\n<details id=\"e-n-accordion-item-1430\" open>\n<summary data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"true\" aria-controls=\"e-n-accordion-item-1430\" >\n\t\t\t\t\t Administrative<br \/>\n\t\t\t<svg aria-hidden=\"true\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><br \/>\n\t\t\t<svg aria-hidden=\"true\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><br \/>\n\t\t\t\t\t\t<\/summary>\n<h5 id=\"el_1736587298750_379\" tabindex=\"0\" contenteditable=\"\" data-element-id=\"ebookHeading4\" data-node-type=\"text\" data-magic=\"col-description\">Help a company or business development, through proper planning, organization, and both human and material resources control, and thus satisfy all specific needs within the market, at the right time.<\/h5>\n<\/details>\n<details id=\"e-n-accordion-item-1431\" >\n<summary data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1431\" >\n\t\t\t\t\t Social<br \/>\n\t\t\t<svg aria-hidden=\"true\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><br \/>\n\t\t\t<svg aria-hidden=\"true\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><br \/>\n\t\t\t\t\t\t<\/summary>\n<h5 style=\"color: #000080;\">Satisfy customer&#8217;s specific needs through a required product or service. The product or service should comply with the requirements and preferences of a customer when it&#8217;s consumed.<\/h5>\n<\/details>\n<details id=\"e-n-accordion-item-1432\" >\n<summary data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1432\" >\n\t\t\t\t\t Economical<br \/>\n\t\t\t<svg aria-hidden=\"true\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><br \/>\n\t\t\t<svg aria-hidden=\"true\" viewbox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><br \/>\n\t\t\t\t\t\t<\/summary>\n<h5 style=\"color: #000080;\">Determine the economical degree of success or failure a company can have while being new to the market, or otherwise introducing new products or services, and thus providing certainty to all actions to be implemented<\/h5>\n<\/details>\n<h5 id=\"el_1736587298750_379\" tabindex=\"0\" contenteditable=\"\" data-element-id=\"ebookHeading4\" data-node-type=\"text\" data-magic=\"col-description\">Help a company or business development, through proper planning, organization, and both human and material resources control, and thus satisfy all specific needs within the market, at the right time.<\/h5>\n<h5 style=\"color: #000080;\">Satisfy customer&#8217;s specific needs through a required product or service. The product or service should comply with the requirements and preferences of a customer when it&#8217;s consumed.<\/h5>\n<h5 style=\"color: #000080;\">Determine the economical degree of success or failure a company can have while being new to the market, or otherwise introducing new products or services, and thus providing certainty to all actions to be implemented<\/h5>","protected":false},"comment_status":"open","ping_status":"closed","template":"","class_list":["post-46575","lesson","type-lesson","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lesson 3: Market Research definition - Certifeka-edu<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/certifeka-edu.com\/ar\/programs\/strategic-planning-module\/lessons\/lesson-3-market-research-definition-5\/\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lesson 3: Market Research definition - Certifeka-edu\" \/>\n<meta property=\"og:description\" content=\"Lesson 3: Micro Environmental scanning Market Research definition Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with potential consumers. 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