Analytical Report Assignment Example | Topics and Well Written Essays - 1500 words

Analytical Report - Assignment Example take down though it looks like an external problem, it has a significant impact within the associations efficient market performance.From the business definition, it is true that this may act as stepping stone for the company to maintain effective operations. Market research refers to the process of appreciating the ability of a given product to satisfy the needs of the customers with obtaining information related to it. Research and investigation works through accessing the emerging trends in the market, demographic structure and the buying habits exhibited by the customers. All these three aspects have made market research a qualified tool towards increasing the market share and potential coverage. The four major tracks in which the company would feel the significance of the tool include enabling effective communication, identifying and understanding opportunities, pinpointing problems that are characteristics of operations and perform ing as a benchmark for evaluating success (Mazzoni et al, 2007). The following is a chart showing the cycle for carrying show up a market researchThe market research will allow the company to identify live opportunities in the market towards establishing an empire of loyal customers. As stated in the case, the company exhibits inability to struggle in the market because of the inability to adapt to the existing technological advances embraced by its competitors (Wei, 2008). The most perfect way to solving this would require the company to gather information about the market niche. The market niche information, obtained through market research and investigation will help in orienting the company to use some other alternative ways for increasing market share and coverage. For instance, through market research, the company may perform that there is existing empty space such as the inability of the competitors to