The main process in market research is as follows:
First step includes: Defining the main problem and the ultimate objective. Then, prepare a research design. The next part includes data collection and sampling. Well, data collection is done using some common research tools used by any company. Analysing comes later where the researched information is properly analysed. The final step is the results where the initial problem listed in the first step will be sorted out.
For any research study, data collection is an important part. Though, data collection is done through many methods but any organisation will not use all the methods to gather data. Some use interviews as a data collection technique. Some prepare questionnaires to gather the required information. Also some quantitative and qualitative data collection techniques. Basically, market research uses two kinds of data namely primary and secondary data. Primary is the kind of data they collect from their customers in the form of interviews, questionnaire and such. Secondary information is the one which already exists in the company in the form of predicted information (Which varies from the primary data).
Research is mainly about the behaviours of the people, their opinions about the specific brand, their attitude towards a brand and such. From this, we get the thoughts and opinions of the people about the particular product or a brand, their general habits and the facts they believe in.
It was that time when Samsung and Apple were the biggest rivals in the smartphone industry. Innovating the whole concept of smartphone was the main motto among both the rivals. It was 2014, when Samsung launched their flagship device named as the Samsung galaxy s5. This was a successor to the previously successful model Samsung galaxy s4. This smartphone s5 was launched in competition to the iPhone5. Samsung was widely criticised after this launch. Reasons mainly included use of plastic body on the phone which made it look cheap, too many specifications which aren’t even necessary on a smartphone and such. After a year they came up with a better smartphone named s6/s6 edge/ s6 edge +. Then came the Samsung galaxy s7/s7 edge which is the best smartphone available today.
In this case, when Samsung launched their smartphone s5, they did not expect that kind of criticism. So, they gathered reasons in every way possible and also they collection some suggestions from their loyal fan base and from the people who used Samsung but moved on to other brands in many ways. Basically, phone reviews are published on many sites such as GSMarena, phone arena, digital trends and trusted reviews and so on. They got to know about their model s5 and they found out the reasons why it was criticised. It looked cheap, it has too many specifications which are not even useful. Phone was appreciated very little for a sole reason that the phone was actually waterproof/ water-resistant.
Ways they collected the required information:
After a phone is launched, all the reviews, customer opinions will be published on many sites and also on social media. They gathered the information through those sites and also from the customers they face at the store. They expressed their concern regarding the degraded quality of a smartphone. That made then develop something better. Also there are customers who shop online from the e-commerce sites.
When they collected the information the next best part is analysing the gathered data/information. They analysed all the information they received and they wanted to build a perfect smartphone. They gained the information or customer opinions through social media, through smartphone rating sites and at the stores when they face the customers. So, accordingly they created a phone s6 edge when they could impress the loyal fan base and also many more new people. Even after this launch they faced some negative reviews from their loyal fans which included removing water proofing of the phone, non-removable battery and no expandable storage and such.
So, they invested $13.8billion in 2014 and that way they created something better than a galaxy s5. For this little criticism they received about their refined device s6edge, they further increased their investment on R&D. It was $14billion which was highest for any tech company till date. Looks like, the huge investment paid off. The more improved, further better, most stylish, ultra sleek phone was launched named Samsung galaxy s7/ s7 edge. They added the water proof option, expandable storage and a bigger battery for a better performance of the phone. This was a long-awaited success for Samsung mobile. They answered their critics through this phone which wasn’t criticised a bit.
- Nick broughall, “Samsung goes for evolution over revolution” – Feb 01, 2016 (http://www.techradar.com/au/reviews/phones/mobile-phones/samsung-galaxy-s5-1226990/review)
· Daniel P. – Samsung breaks R&D spending records, invests $14 billion in new tech – 10 Mar 2015, (http://www.phonearena.com/news/Samsung-breaks-R-D-spending-records-invests-14-billion-in-new-tech_id67054)
· Brad Reed on Mar 10, 2015 – “Samsung is spending an insane amount of money to beat Apple to the ‘next big thing’” (http://bgr.com/2015/03/10/samsung-r-and-d-spending-2014/)
- Evan Kypreos – 08 march,2016 – “Samsung galaxy s6 edge review” (http://www.trustedreviews.com/samsung-galaxy-s6-edge-review)
- Max parker – 10AUG, 2016 “Samsung galaxy s7 edge review” (http://www.trustedreviews.com/samsung-galaxy-s7-edge-review)
BY Goutham Menda (215389129)