Location

Edwards 104

Document Type

Oral/PowerPoint Presentation (10 minutes and 5 minute Q and A)

Description

There is no doubt that today almost every product or service available to consumers, retailers and even producers undergo some form of market research and testing. Market research is an essential part of any company or organization, as it enables the firm to understand specific areas to focus on during the development and launching of a new product/service. While market research has been seen to improve the quality of end-products and increase product acceptance amongst consumers, there is still an overlapping gap associated with market research. Often categorized as Bias, this overlap tends to alter the results of research and sometimes disrupts the outcome of a product/service. This paper highlights some biases associated with market research, it provides insights on how bias can affect research results, and finally it proffers some best practices that can be adhered-to by industry experts.

Start Date

26-4-2014 12:00 AM

 
Apr 26th, 12:00 AM

Analysis and Impact of Bias in Market Research

Edwards 104

There is no doubt that today almost every product or service available to consumers, retailers and even producers undergo some form of market research and testing. Market research is an essential part of any company or organization, as it enables the firm to understand specific areas to focus on during the development and launching of a new product/service. While market research has been seen to improve the quality of end-products and increase product acceptance amongst consumers, there is still an overlapping gap associated with market research. Often categorized as Bias, this overlap tends to alter the results of research and sometimes disrupts the outcome of a product/service. This paper highlights some biases associated with market research, it provides insights on how bias can affect research results, and finally it proffers some best practices that can be adhered-to by industry experts.