USING
MARKET
RESEARCH
TO
SUPPORT
DECISION
MAKING
Introduction
Organisations
that
operate
in
the
market
are
increasingly
turning
to
market
research
to
support
their
decision
making
processes
.
A
business
,
for
example
,
might
be
considering
opening
new
,
expanding
internationally
,
proposing
to
diversify
its
product
or
thinking
about
acquiring
another
company
.
Before
proceeding
,
the
business
will
require
specific
information
to
understand
the
implications
of
making
such
changes
.
The
process
of
collecting
this
information
and
developing
this
understanding
is
known
as
market
.
This
case
study
focuses
on
how
JD
(
part
of
JD
Sports
Fashion
PLC
)
,
the
UK's
leading
retailer
of
fashionable
sports
and
wear
,
uses
market
research
to
support
and
develop
its
business
.
As
a
B2C
retailer
,
JD's
performance
depends
on
providing
the
most
desirable
brands
and
products
at
the
right
and
in
the
right
locations
to
meet
with
the
of
the
consumer
.
For
20
years
,
the
business
expanded
through
organic
,
meaning
that
growth
was
generated
by
building
sales
revenue
through
increasing
its
network
of
stores
.
JD
has
expanded
more
rapidly
in
recent
years
through
acquisitions
(
inorganic
growth
)
,
The
Group
has
made
national
and
international
acquisitions
including
Sprinter
(
Spain
)
as
it
has
expanded
its
business
overseas
.
The
group
has
also
secured
such
as
The
Duffer
of
St
George
,
Sergio
Tacchini
(
under
UK
licence
)
and
the
fashion
brands
Chilli
Pepper
,
Nanny
State
and
Sonneti
.
The
JD
Sports
Fashion
Group
now
has
over
900
stores
across
the
UK
and
Europe
and
a
reputation
for
stocking
exclusive
and
stylish
ranges
.
What
is
market
research
?
The
exchange
between
sellers
(
)
and
buyers
(
)
for
particular
or
services
is
called
a
market
.
A
market
does
not
necessarily
exist
in
a
single
location
,
nor
need
it
be
a
real
location
?
products
can
be
bought
and
sold
.
Markets
change
constantly
and
businesses
need
to
have
a
clear
understanding
of
both
the
supply
and
demand
.
The
principal
role
of
market
research
,
therefore
,
is
to
provide
a
business
with
a
comprehensive
view
of
in
order
to
develop
products
and
services
that
satisfy
their
needs
better
than
the
.
Also
,
given
the
increased
complexity
of
the
business
environment
,
it
is
no
longer
enough
to
make
key
decisions
using
a
?
gut
-
feel'
approach
alone
.
Decisions
need
to
be
informed
and
market
research
helps
to
support
this
process
,
significantly
reducing
the
level
of
financial
risk
attached
with
investment
decisions
.
Market
research
involves
the
capture
and
analysis
of
consumer
,
competitor
and
market
data
.
This
enables
JD
to
more
accurately
the
level
of
demand
for
its
products
.
It
also
influences
decisions
to
target
capital
investment
on
projects
that
will
offer
the
best
return
on
that
investment
,
such
as
opening
a
new
store
or
entering
a
new
market
.
Market
research
provides
consumer
.
It
is
essential
for
JD
to
have
this
dialogue
with
the
consumer
to
gain
into
what
they
think
about
its
range
of
products
,
brands
and
services
.
This
enables
the
business
to
meet
its
demands
and
the
competition
.
It
helps
the
business
develop
a
clear
and
informed
business
plan
which
all
business
colleagues
can
work
towards
fulfilling
.
For
example
,
this
information
can
create
a
winning
marketing
mix
to
reach
different
customer
groups
or
influence
decisions
on
range
planning
in
new
stores
.
Research
can
also
provide
information
about
the
size
and
performance
of
markets
.
It
can
inform
a
business
about
who
the
competitors
are
,
what
they
are
doing
,
and
their
market
.
Potential
areas
of
opportunity
within
an
international
,
national
and
local
context
can
also
be
identified
.
New game