Topic: Market Research Royal University of Phnom Penh Institute of Foreign Languages English Department Communication Skills 402 Presentation Topic: Market Research Lecturer: Hor Soknak Group IV: Ing Ramy, Ly Tolarith, Meas Saim, Keo Ratanatepy, Phorn Sireivichet and Sou Sotheany

I. Market Research Definition Market research is the collection and analysis of information market research allows businesses to make decisions

II. Purpose of conducting a market research Changes in the product ranges of competitors Gain a more detailed understanding of consumers’ needs Reduce the risk of product/business failure Forecast future trends

III. Characteristics of a good market research Work out what information you need before you start Determine where the information is Decide how you will process the information Implement your market research plan Secondary information sources for market research

IV. How to conduct a market research 4.1 Defining the problem and purpose Expected problems Accidental problems New created ideas

4.2 Analysis of the situation: informal survey from information available about problem area. Understand self company’s strength and weakness Know the competitors Gather useful economic information in a period of time

4.3 Obtaining data that is specific to the problem Clear purpose and objectives Appropriate research method(s) Well organized questions Value of Information

4.4 Analysis and interpreting the data Qualitative Quantitative approach 4.5 Fostering ideas and problem solving Check the data and your plan Find solution for the problems that are the problems for your market

4.6 Developing marketing plan Make a plan for your market How effective your market plan Checking

V. The Challenges of the market research “How and Why” and “who and what” “Proliferation”: the sense that market research becomes big business “Relevancy”: how the market research and customers be relevance. VI. Conclusion