Getty Images The cybersecurity industry is a rapidly changing beast in which the good guys and the bad guys are constantly trying to one up each other. As soon as an exploit is discovered, white hat developers scramble to find a fix while the black hats try to take advantage of it for profit - or sometimes just for fun. It's perhaps no surprise to know that these cyber-battles are happening at a larger scale and at a higher volume than ever before. In fact, cyber security has even become a major talking point in the mainstream media and in government think tanks over the last twelve months or so thanks to the high-profile WannaCry cyber-attack that was called "the biggest ransomware offensive in history".
But the perception of value is a subjective one, and what customers value this year may be quite different from what they value next year. As such, the attributes that create value cannot simply be deduced from common knowledge.
Rather, data must be collected and analyzed. The goal of marketing research is to provide the facts and direction that managers need to make their more important marketing decisions. To maximize the benefit of marketing research, those who use it need to understand the research process and its limitations.
Market Research These terms often are used interchangeably, but technically there is a difference. Market research deals specifically with the gathering of information about a market's size and trends. Marketing research covers a wider range of activities.
While it may involve market research, marketing research is a more general systematic process that can be applied to a variety of marketing problems. The Value of Information Information can be useful, but what determines its real value to the organization?
In general, the value of information is determined by: The ability and willingness to act on the information.
The accuracy of the information. The level of indecisiveness that would exist without the information. The amount of variation in the possible results. The level of risk aversion.
The reaction of competitors to any decision improved by the information.
The cost of the information in terms of time and money. The Marketing Research Process Once the need for marketing research has been established, most marketing research projects involve these steps: Define the problem Identify data types and sources Design data collection forms and questionnaires Determine sample plan and size Collect the data Analyze and interpret the data Prepare the research report Problem Definition The decision problem faced by management must be translated into a market research problem in the form of questions that define the information that is required to make the decision and how this information can be obtained.
Thus, the decision problem is translated into a research problem. For example, a decision problem may be whether to launch a new product. The corresponding research problem might be to assess whether the market would accept the new product. The objective of the research should be defined clearly.Browse our Leasing Industrial Insights, Office Investment Reviews, Real Estate Intelligent services, Asia Pacific Property Digest, Office leasing reports.
Tariffs revision designed to cure trade deficits have become a live and contentious economic policy issue. Despite the ripples it creates, confronting the trade deficit is long overdue given its importance to such things as reducing the economy’s growth rate, and all that follows in terms of jobs, wages and income.
Get insights from 1, small business owners on digital marketing trends, social media trends, and how they're planning on promoting their small business in Interpret trends and market developments.
Use statistical analysis of market data to interpret market trends and developments. Analyse market trends and developments for their potential impact on the business. Marketing Research.
Managers need information in order to introduce products and services that create value in the mind of the customer. But the perception of value is a subjective one, and what customers value this year may be quite different from what they value next year.
BSBMKGA Interpret Market Trends and Developments. This is one of the units that make up Interpret Trends and Market Developments 2. Analyse Qualitative Results 3.
Report on Market Data At the conclusion of this training you will be asked to complete an Assessment Pack for this unit of competency.
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