There are many facets of today’s business environments that can confound the start-ups and established business houses alike. The vast river of information accessible to everybody is a factor that can hold any enterprise to ransom, be it in the field of health or education or any aspect of sustenance for most self respecting economies. There is this tendency of maximum individuals being informed which is constantly posing a massive challenge. Whereas earlier the general population took the products and services on offer at face value they did not argue nor did they ask for details. They merely took the products or service and managed to use them to the best of their ability. In the present day scenario, however, the situation is very different. Each product is floated in a highly competitive market. The consumers too and the end users of the products are able to download an expansive amount of information about the product and its several uses. This makes for a climate in the market that has never been experienced two to three decades ago. It is necessary therefore, for all manufacturers and service providers to key a healthy tab on the pulse of the market. To be able to do this, they need to ensure that they too are informed about the needs of their end consumers in various field. Thus, the wearers of a number of consumer goods are tapped by manufacturers of all forms of customer’s. Many a times they seek the help of specialized organizations that take on the active aspects of conducting targeted surveys among the requisite audiences. There are huge global firms for example Deolitt and several others that are constantly informing their clients about the latest trends in the world’s economic processes.

This has become a very vital part of survival for the manufacturer. No doubt several different avenues exist for forming end utilizing a position in any given field. Many in the services sector have made elaborate arrangements to showcase the fact that their services are truly the best and world class. The developed and the developing countries have shown relentless competition in gaining the upper edge on knowledge and information pertaining to their products and services. Some of the accepted mode of enquiry have been:

• Before initiating their Product or Services package.
• At the initiation of their product or services package.
• After some time when the product or services have been in the market for some time.

Studies and Survey Significance for Markets

At the entry level before even beginning the manufacture, the businessman or the business concern are desirous of knowing about the depth of the demand structure and the market for their products. Most times the manufacturer has a fair idea about the demand generation. However, due to the highly competitive market, the rapid changes being incorporated in technology as also the vast data banks held by various organizations the manufacturers must reinforce the available knowledge with preliminary surveys to enhance specific needs, cost effectiveness of availability of the raw materials for the product manufacturing process.

At the point of launching as well there is need to ascertain how well the product has been received. Most times the time between demand generation for a product and the time taken for manufacturing the product are both quite apart enough for newer technologies to be introduced or new needs to be generated. In such a situation the manufacturer would have to rethink and see if necessary alterations can be featured into the product. In some cases an almost new product would have to be thought about. Thus, at this stage it is necessary to obtain a general idea of what is till actually acceptable by the potential consumer. It is possible to ascertain the longevity of the product after assessing the changed consumer demand patterns.

Thirdly, when the product has been in the market for sometime and other similar products have also surfaced and it is time to reassess whether or not the product should be continued under the manufacturing processes. It is necessary to take stock and determine whether it should be continued in it is present form or not and also if there is need for introducing certain newer elements into the product to improve its marketability and boost sales. For this the end users are asked about their level of satisfaction with the product as also if they needed some alterations, improvements, reconstructions to be featured in to make the product all the more useful.

Conclusion

The current scenario demands high levels of market research. For this highly skilled and specifically trained personnel are required to conduct a number of surveys and studies. These days there are a large number of companies in the market globally that cater to the needs of the manufacturers and the wealth creators as well as the common people. There is a need in the global market today to be aware and informed about the exports and imports potential of any of the products and services being boosted into the markets. This is an emerging sector that needs to be boosted tremendously. It has become an urgent need of the hour.