Theme: Marketing research on the skills that employers require from candidates - young graduates from business schools Subject title: Marketing Research
The marketing environment is changing at an accelerated pace and the need for marketing information in nowadays is greater than at any time in the past. More and more companies elaborate marketing information systems which provide to the managers details about the wishes, the preferences and the behavior of the customers. At the present time the companies with better information enjoy a competitive advantage; facilities of making the offers and the marketing plans etc.
“Marketing research is the function linking the consumer, customer and public to the marketer through information – information used: to identify and define marketing opportunities and problems; to generate, refine and evaluate marketing actions; to monitor marketing performance; and to improve understanding of the marketing process.” (Kotler, P.,Armstrong, G.,Saunders, J., & Wong, V. (2002), Principles of Marketing (3rd ed.). Harlow: Pearson Education Limited)
Description of the research
Essentially, the purpose of a marketing research is to response of five basic questions: “Who? What? Where? When? How? ” . Every marketing research is a result either of some sort of contradiction between the desired and actual condition or the availability of unused opportunities. The purpose of this research is to define the main work skills needed for the labour market when the students finish their education. It will be in help for the business schools to receive more information and to prepare the students on a high level. The survey contains 25 questions and the interviewees are people who work and respond for the hiring employees in several Bulgarian companies, for example – general managers, executive directors, human resource managers etc. Some of the topics in the questionnaire are about communication skills, organizational skills, ability to work in multicultural environment, computer and language skills etc.
Research reasons and objectives
Marketing research helps a business to gain a more detailed understanding of the consumer's needs and wants; the effectiveness of the current marketing; to reduce the risk of business failure; to forecast future trends etc. Every company has to follow a series of steps of the marketing research process in order to achieve its aims. Some of them are problem definition, development of an approach to the problem, data collection, data preparation and analysis etc. “The market research process follows these stages; set objective and agree approach; carry out pilot survey; collect and classify information; collate and analyse information; present findings” (Morden, A.R., (2003) Elements of Marketing. London: DP Publications Limited, page 75) In this case reasons for research are:
- Between higher education institutions – to attract more future students and to offer more adequate education. - Between young graduates – to be more competitive and well prepared for the life out of the school or the college. 2. Reducing youth unemployment.
3. Concern for the social, ethical and cultural development of the young people. Objective of the research are companies with different activities, and the purpose is to get detailed information about the labour market in more areas.
The managerial problem is connected with the decisions which have to be taken by the managers. “A marketing management problem is defined in one of two ways: (1) If the symptoms of failure to achieve a goal are present, the marketing manager must select a course of action to regain the goal, and (2) if the symptoms of the likelihood of achieving a goal are present, the manager must decide on how best to seize the opportunity.” (Burns & Bush Marketing Research, 4th...