Module 3 SLP Assignment Example | Topics and Well Written Essays - 750 words - 1

Module 3 SLP - Assignment Example Market research is essential in identifying specific market needs, characteristics of such markets as well as strategies to be devised to reach those markets (Jargon 2012). The following report explains the processes that were involved in the planning and execution of market research about the company’s products. The research process stemmed from a SWOT analysis that was carried to determine the company’s ability to take advantage of various opportunities in the market as well as tackling its threats in the market. The process was comprehensive, tackling both the internal and external business environment and providing recommendations on ways to improve the companies effectiveness and competitiveness over its rivals. The main objective in carrying out the research was to find out the specific weaknesses that the company was facing in its operations. In addition, it was also to find out some of the pointers to the company strengths so that it would work on weakness to increase its competitive advantage. In analyzing the company’s internal environment, the research aimed at identifying the influence of specific issues on business activities, as well as their merits and demerits to the business. According to the SWOT analysis that was done, there were pertinent issues of concern to the business that needed research on how they could be addressed to increase the company’s market competitiveness. In reference to the business’ internal strengths, some of the issues relevant for research included the number of staff and their knowledge about company goals and objectives, awareness about company products and their marketing strategies. There was also concern about the communication channels that were used in the company and how they influenced effective performance. As far as the company’s weaknesses were concerned, there was need to research the record keeping process