Development of the businesses through the companies for market research

AuthorAgim Zuzaku, Skender Buja
PositionEuropean University of Tirana
Pages139-148
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

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