View the step-by-step solution to:

In your Marketplace Simulation game play today, you will be concentrating on growth options and using market research to help you in your decision

In your Marketplace Simulation game play today, you will be concentrating on growth options and
using market research to help you in your decision making. Bont and Hamersveld (2007) tell us
“Today, organisations, when making key decisions, are mindful of the importance of ensuring that
they understand the views and opinions of current and potential customers and know what
competitors are doing in the marketplace” (p.3).

Understanding the role of market research and the many methods for conducting market research will
be valuable for your work in this class and others in your program. Learning from Subject Matter
Experts (SME) in market research is the focus of this week’s Assignment and Discussion.

For this Assignment you will be:

 Reviewing the information in this week’s readings and sources you identify in your own
 Identifying areas about market research that are particularly interesting to you or that you
would like to know more about.
 Creating a set of 3-6 questions using the information you have gained in your readings and
research that will help you gain a greater understanding of these areas.
 Identifying a market research professional or a company where a representative can talk to
you in more detail about the market research process. For some ideas on how you can
identify a market research professional or company view the short video:

 Talk with your current employer and see if there is a department in your company that
performs this function.
 Talk with family and friends
 Use the social media and networking sites, i.e., Facebook and LinkedIn, etc.
 Look for companies that conduct market research and contact them
 Contact your local Chamber of Commerce and get referrals

 Conducting an interview with a market research professional or a company representative.
 Using the results of this research to determine how it can be applied to the Marketplace

You will post the results of your work in a 3-4 page APA formatted paper, not including cover and
reference page, to your Unit 4 Discussion Board by Saturday night.

Sign up to view the entire interaction

Top Answer

Attached is a detailed explanation... View the full answer

Marketplace Simulation game.docx

Markets change constantly and businesses need to have a clear understanding of both the
supply and demand. The principal role of market research, therefore, is to provide a business
with a...

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.


Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online