Market research is the process by which businesses find out about customers' needs

Jun 21st, 2015
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California State University - Chico
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Market research is the process by which businesses find out about customers' needs, wants and desires. It makes possible the successful development of new products.This study shows how an international company, Beiersdorf, combines market research with new product development on its NIVEA Deodorant brand to provide exciting new products that better meet consumer requirements

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1:IntroductionMarket research is the process by which businesses find out about customers' needs, wants and desires. It makes possible the successful development of new products.This study shows how an international company, Beiersdorf, combines market research with new product development on its NIVEA Deodorant brand to provide exciting new products that better meet consumer requirements.Beiersdorf has a clear goal - to be as close as possible to consumers, regardless of which country they live in. Developing superior consumer insights is fundamental to the continued future success of Beiersdorf and its international brands like NIVEA, Eucerin and Atrixo. These are the result of more than 120 years of experience in research and development.Beiersdorf has launched many new brands and products into a variety of countries and categories. Being an innovation leader has allowed Beiersdorf actively to shape its markets and set new trends. These product launches have led to long-term global growth.2:The key stages of market research and new product developmentMarket research involves the systematic gathering, recording and analyzing of data about customers, competitors and t

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