The Importance of Market Research Essay

The Importance of Market Research Essay

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The Importance of Market Research
Apple Inc is a multinational corporation founded in 1976 in Cupertino, California, by Steve Jobs and Steve Wozniak and was originally named Apple Computers, Inc (Apple, 2011). The company began as an organization that sold computers and computer hardware but this has led the way for the company to create innovative products in the field of electronic MP3 players, cell phones, entertainment, and media products. This wide range of electronics allowed Apple Inc to expand its industry and attract more customers. As Apple Inc grew worldwide, it managed to draw customers in different countries making it today one of the most valuable companies in the world. Market research can be beneficial to Apple because provides information for managers and necessary tools for the marketing mix, which can help with customer satisfaction, customer retention, and product opportunities.
Importance of Marketing Research to Apple
According to Steve Jobs, Apple does not conduct market research because the company just wants to make good products that consumers will need. He explains that Apple designs products for themselves and “it’s not about pop culture and it’s not about fooling people, and convincing people that they want something they don’t…so you can’t go out and ask people, you know, what’s the next big [thing]” (CNN, para. 2). Apple designs its products based on what they believe is groundbreaking. This type of viewpoint allows the management team to introduce products to the consumer and educate the world about innovative technology.
Market Research Definition
Market research is a strategic step in determining the best solution for discovering opportunities and acquiring clients. This is the first critic...


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...Cited

Apple Inc. (2012). About Us. Retrieved on January 20, 2012 from http://www.apple.com/about/
Burns, A. C., Bush, R. F. (2006). Marketing research: Online research applications (5th ed.). Upper Saddle River, NJ: Prentice Hall.
CNet. (2011). Apple iPhone 4S Gets Lukewarm Analyst Response. Retrieved on January 22, 2011 from http://news.cnet.com/8301-13579_3-20116004-37/apple-iphone-4s-gets-lukewarm-analyst-response/
CNN. (2008). America’s Most Admired Companies. Steve Jobs Speaks Out. Retrieved on Jan 22, 2012 from http://money.cnn.com/galleries/2008/fortune/0803/gallery.jobsqna.fortune/2.html
McDaniel, C. & Gates, R. (2006). Marketing research (7th ed.). Hoboken, NJ: John Wiley & Sons.
New York Times. (August 25, 2011). Apple Incorporated. Retrieved on January 20, 2012 from http://topics.nytimes.com/top/news/business/companies/apple_computer_inc/index.html

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