(Solved Homework): 1. List at least two different kinds of firms (industries) that conduct marketing research…

1. List at least two different kinds of firms (industries) that conduct marketing research. Give several examples of specific firms in those industries. Give an example of the primary type(s) of marketing research conducted by each.

Expert Answer

Two industries that would conduct market research are Retail and Automotive. The retail industry – including the furniture industry, the apparel industry, and convenience stores — experiences more fluctuations than perhaps any marketplace. Seasonal effects and the changing economy are market forces that tend to drive the success of the retail industry. The automotive industry is characterized by a large number of product variants and fluctuating production volumes. Every supply chain has to meet high standards in terms of both quality and flexibility.

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Some examples of firms in Retail sector are Unilever, Proctor & Gamble and Nestle. In automotive there are many players like Toyota, Honda in the economy segment, Audi, Lexus in the luxury segment etc,

The primary research conducted in Retail is Primary market research. It is a kind of market research which is done by the business or company itself with the objective of gathering information that can be used to improve the products, services, and functions. Primary market research is also known as field research since it is research done from scratch, without using any information that is already made available through other sources.

In Automotive, focus groups are a common form of market research. Focus groups let you get personal with your customers to find out what they think and why. In a focus group, you can pose follow-up questions and probe more deeply into why a participant has a specific opinion about a topic.

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