Discuss the benefits and drawbacks of market research particularly in Essay

Discuss the benefits and drawbacks of market research particularly in relation to new and innovative products - Essay Example Qualitative methods are used to understand complex social phenomena. They are suitable to seek knowledge about the fundamental characteristics of a phenomenon under study. It includes focus group among small group through exploratory or explanatory study and gathers information. It tries to understand and answers how and why through discussion and in-depth face-to-face, telephone or online interviews. Quantitative research is gathering data in quantity. The goal of the quantitative research approach is to find out the truth by using statistical procedure. Quantitative methodology allows readers to understand facts easily by looking at charts and graphs. The use of statistics reduces contradictions, which may exist in research. Market Research helps in creating better communication with current and potential customers. A good research enables a company to tailor effective and target marketing through various marketing campaigns towards its desired segment. It allows a firm to directly interact with its current and potential customers to understand their needs. Market research helps the businesses to identify potential opportunities, for example before opening a retail outlet or restaurant, the location is very important, especially if there is no competitor in that area. This would be called identifying opportunity. Another example can be offering a service in a location which need such service, such as Amazon, identified an opportunity of online booking selling and in no time, it became successful due to niche in the market.. Market research gives greater confidence in starting a venture as extensive research shows the potential risk and benefits of starting up a business. Even if there is potential opportunity, a good prior research about the product is essential among the potential customers to know the true value of the product. One such kind of example is

Political Speech Text Analysis Essay Example | Topics and Well Written Essays - 2000 words

Political Speech Text Analysis - Essay Example In the speech, Obama begins by raising three important questions about the state of American democracy and the notion of the ‘American Dream’. Using an affirmative tone, the new president asked the audience – ‘If there is anyone out there who still doubts that America is a place where all things are possible...’. As the first African-American ever to be elected to the highest seat of power, the president is himself a valuable answer to the question he raised. The second paragraph of the speech begins with a metaphor - ‘It is the answer told by lines that stretched around the schools and churches in numbers this nation has never seen’, which represents the millions of people who lent their voice and support to his cause and campaign. Maintaining the same affirmative posture, Obama continues to pose another question – Who still wonders if the dream of our founders is alive in our time’. He uses the word ‘dream’ to associate his question with the famous 1963 speech of Martin Luther King Jr. – ‘I have a Dream’. The president responds to the question posed by enumerating the minorities in the USA. By this, Obama shows that the ‘Dream’ for which Martin Luther sacrificed his life and fought so hard through non-violence had indeed been realized. He completes this justification by saying – ‘we have never been just a collection of individuals or a collection of red state and blue states: we are, and always will be, the United States of America’. The red and blue states used in this context represents the political parties that are usually favoured by people in the states namely the Republicans (red) and Democrats (Blue). At the end of this phrase, he calls for all citizens towards consolidation irrespective of the party they favour as they belong to the same nation. The introduction of the speech concludes with another question – ‘Who still questions the power of our