Week 1 EOC | What I am expecting from this class

Before enrolling in this class, my general knowledge of marketing research was very limited. I was oblivious to the fact that marketing plays a vital role in every industry; for without it, companies would not be able to sell their products to customers effectively. Marketing research can sound very complicated and overwhelming; however, by definition, it is the “process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present, and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business’s target market, the industry as a whole, and the particular competitors you face” (“Market Research” 2015).

After doing some brief study on marketing research, from this class, I expect to properly understand consumers’ behavior in the fashion retail sector and how to effectively communicate whatever product that I want and/or need to sell to the customers in the market: “To run a successful business, you need to learn about your customers, your competitors, and your industry” (“Understand Your Market” 2015). For example, as a student who wants to have a career in the fashion industry, it is important to understand current trends and how customers are responding to those trends. By knowing the customer and knowing the competitors, companies can strategically plan their marketing tactics in order to be the most successful and to reduce the chance or loss. In addition, because marketing is such a broad topic, and people can spend years learning about the different aspects of marketing, I hope to gain a better overall understanding of the subject because “market research is about listening to people, analyzing the information to help organizations make better decisions and reducing the risk” (“Market Research Explained” 2015).

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Works Cited

"Market Research." Entrepreneur. Entrepreneur Media, Inc., 2015. Web. 13 Apr. 2015. <http://www.entrepreneur.com/encyclopedia/market-research>.

"Market Research Explained." ESOMAR. ESOMAR, 2015. Web. 13 Apr. 2015. <https://www.esomar.org/knowledge-and-standards/market-research-explained.php>.

"Understand Your Market." U.S. Small Business Administration. Business USA, 2015. Web. 13 Apr. 2015. <https%3A%2F%2Fwww.sba.gov%2Fcontent%2Fdo-your-market-research>.