Development of the businesses through the companies for market research

• Author: Agim Zuzaku, Skender Buja
• Position: European University of Tirana
• Pages: 139-148

ISSN 2410-3918 Academic Journal of Business, Administration, Law and Social Sciences Vol 1 No 1

Acces online at www.iipccl.org IIPCCL Publishing, Tirana-Albania March 2015

139

Development of the businesses through the companies for market research

PhD(c) Agim Zuzaku

European University of Tirana

PhD(c) Skender Buja

European University of Tirana

Abstract

Market research as the main part of the marketing is very important for the development of

businesses as well as for the opportunity in the creation new jobs. e purpose of this paper is

to provide the incentives for the businesses to conduct market research while justifying that the

market research is an important factor in the decision making process of the businesses and it

impacts the development of their business activities by creating a safe decision-making through

market research.

In order to convert successfully any business ideas with high capital incomes, it is important for the

companies to understand and to determine the right value of their investment. For this particular

reason, it is important to address the thesis about how the investment in the market research proves

the usefulness or the prot for the company.

Nowadays, the market research is not only conducted to gather the information about the market

and the collection of data. However, very oen it is used even to assist in the identication of the

opportunities for the future (this has been referred several times as “market research” ‘to point out

the dierence from’ data collection)’. Market research is priceless in the creation process of the

new products, services, brands or advertisements (Keegan, 2009). In the case of Kosovo, market

research has found very limited room within the strategies for business development. According to

the Kosovo Statistics Agency, during 2013, a total of 9421 enterprises have been registered, whereas

in total 1508 enterprises or 16 % of the enterprises registered in 2013 have closed (Kosovo Statistics

Agency, 2014).

In the framework of this research, we have performed a research with the companies that provide

services for market research in order to nd out how a market research in Kosovo is conducted

and in case the number of market research is increased, how much would it impact the creation

of new jobs.

Keywords: Market Research, Employment, Economic Development, Marketing, Decision Making.

Introduction

Development of a business depends upon the strategy and the possession of facts it does

have. In order to obtain the right decisions, we need to possess the right information

available. In this sense the information is achieved through the marketing research that

in this context is a part of the marketing process (Kent, 2007). Pretty oen we can’t make

a dierence between the term “Marketing research” and “Market research”, thus causing

a lot of confusion in understanding their meaning. e author, Tony Proctor in his book

“Essentials of Marketing Research”, has explained that the term market research is only