Volume : VIII, Issue : II, February - 2019

Role of Market Research in sculpting Entrepreneurship

Dr. T. Karthikeyan, M. Sampathkumar

Abstract :

The objective of our paper is to highlight the importance of Market Research in building Entrepreneurship in this fast–paced globalised market. On one hand the world is witnessing growth in major sectors, thanks to the successful entrepreneurs and start–ups. On the other hand, there are several budding entrepreneurs who struggle to succeed in their endeavours. There are several entrepreneurs who even drop their ambitious journey in the midway and go back to their 9 to 5 job. When we deep dive in to data, one could understand that the major reason for the struggle or failure of an entrepreneur is mostly due to the incorrect decisions taken viz., wrong product to the market, selection of an inappropriate market, not focusing on right target audience, failure in communication, incorrect pricing strategy, etc… Either those entrepreneurs would not have deployed Market Research during their venturing in to business or the market research execution would have been wrong, resulting in misguidance. While there are numerous case studies for analysing the failures, we would like to highlight a few case studies in this paper which favoured the entrepreneurs and start–ups. A small finding from the market research could save billions to entrepreneurs. Hence, it is important for them to invest their time and resource in research both during pre–launch and post–launch of any product or service. These real–time case studies would justify the above statements. The case studies discoursed in this paper are the real–time projects handled by the researcher. The and names are not revealed in any of the case studies, as the Research Scholar, in good faith, is not supposed to do so.

Article: Download PDF    DOI : https://www.doi.org/10.36106/paripex  

Cite This Article:

ROLE OF MARKET RESEARCH IN SCULPTING ENTREPRENEURSHIP, Dr.T.Karthikeyan, M.Sampathkumar PARIPEX - INDIAN JOURNAL OF RESEARCH : Volume-8 | Issue-2 | February-2019

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