Market Research Essay Example | Topics and Well Written Essays - 500 words

Market Research - Essay Example eed that must be ignited within them to look good, feel good and be different from the rest of the men who do not use this product or any similar product in the first place and eventually feel left out when it comes to the manly appeal, the facial looks and so on. Thus market research for launching a new skin care product would first be understood by the proposition of clearly identifying the particular segments which will be hit upon (market segmentation) and then target the message in a way (market targeting) that the positioning and focus of the product does not mingle with the already present products within the market (market positioning). For this, it is significant to note that market research will touch upon areas like the exact age groups which would be catered to whilst understanding the product, the social class that it will take care of, the economic conditions which must be comprehended beforehand whilst discussing the determinants of the market research module and more than anything else what kind of people would actually be the end customers for the said product (qualitative research will be applicable here). (Baines, 2002) If there are any misunderstandings within the relevant target domains that the skin care products are just for women and men have got no relation with them; the same will be removed by this product, i.e., if it is the first mover within the market. The first mover would surely have his advantage nonetheless but then again its job will be cut out and there would be hard figures to achieve in a certain amount of time. Thus the skin care product would take care of market that will be segmented in terms of age groups, economic factions, social class regimes, the geographic locations and so on. The importance of this new skin care product towards the organization is immense because this will be the driver for the organization in the first place. The company’s financial and fiscal revenues would be dedicated solely on the skin