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Posted By Admin @ Feb 25, 2022
Posted By Admin @ Feb 25, 2022
Tittle: The Marketing Research Study for Not-for-Profit English Language Business School in BRUXELLES, Belgium
Introduction of The Marketing Research Study for Not-for-Profit English Language Business School in BRUXELLES, Belgium
The basics of marketing research will remain the same for both the profit and not-for-profit organizations, but the overall strategy may have some changes because when an organization is looking to earn profits, they see things with the perspective of profit, nothing else. On the other hand, a not-for-profit organization may have other important objectives to consider, because profit-making is not their prime objective. However, various marketing research steps will remain the same. The marketing research is important because it can provide great insight for any organization about its target market and audience. There could be various questions in the minds of an organization regarding their customers and market, and they can find viable answers with the help of proper marketing research. If answers are found for each question, the situation and circumstances will be clear in the eyes of the organization.
The market research is essential in so many ways, and one should understand that without proper market research, it is hard to achieve goals and objectives which are developed during business planning. William Bill works in Wealth Design Group LLC, and once he said that “Failure to do market research before you begin a business venture or during its operation is like driving a car from Texas to New York without a map or street signs,” This shows the importance and criticality of the market research, especially for any new organization going to start their business or work in a new area. There are different types of market researchers, which an organization can pursue. The first type is primary market research, which collects data through questionnaires, surveys, interviews as well as focus groups. The second type is called secondary research, and data for this research is collected by analyzing the existing data and information available about the required market. So, it is up to the organization what kind of market research is required for their business or work, and how they want to do it (Pyle, 2010). In this market study, it will be analyzed and explained why Not-for-Profit English Language Business School will need marketing research and how they can do it.
Why to do Marketing Research?
An English language not-for-profit Business School is going to start its school in Belgium, and they must know that the English language is not something very common in the country because a majority of people speak French, German as well as the Dutch language. So, when an English language school will start its operations in such an area, it will have to do market research so that they can get the views from the students of Belgium. They are going to start two programs in the beginning; BA and MBA in the city of Bruxelles. But it is imperative for them to know which business programs should be available in the beginning, and what else can be done in the future. It is an important question for them to find answers about what students will prefer in a not-for-profit business school. They will also have to identify an area in the city, which does not have any considerable business institute, because it may not be good to start a business school in an area, where there are too many business schools that are already operating. So, they will have to find a suitable area, and they will have to know the perspective of citizens, how they want this school to operate, etc. (Pope, Isely and Asamoa‐Tutu)
The Marketing Research Objectives to Collect Required Information
It is vital for the business school to understand that they need to develop concrete objectives so that they can follow those objectives to collect important data, which is required to move forward with a certain plan. Here are some of the marketing research objectives for the English language not-for-profit Business School: