Indian Institute of Foreign

Trade
 Greetings from MRC!
Hope you are all geared up for what awaits you.
Market Research is one of the most important aspects of any major
firm before they launch a new product or help boost the sales of an
already existing product. Marketing Research involves two very crucial
parts, among other things, to understand the market better. They are
primary research and secondary research.

For starters, read up on the definitions provided below:

 Primary Research
Primary Research is usually information gathered directly from original or new
sources. Information is collected first hand through surveys, interviews and talking
to customers and other businesses. It is up to the analyst to whether keep the
research formal or informal, depending on the kind of audience he is reaching out
to. Examples are telephone, mail or email surveys, group discussions, interviews,
questionnaires, etc.
 Secondary Research
Secondary Research is information and data that has already been collected and
analyzed by other sources. This information is usually collected by checking on the
past data of the companies over the internet, the annual reports or any articles or
newsletter published around the company.
 A Story
The year was 2012 and the date
was 19th January, America woke BUT the fault
up to a very shocking news, was not just that,
“Kodak has filed for Bankruptcy the fault was
and would no longer be making about asking the
digital cameras”. This led to wrong marketing
nostalgia for many whose first questions and not
photos may have been on a Kodak so much about the
camera. The company, which
made the term “Kodak Moment”, technology. They
a common phrase for many to never understood
describe a personal event that what the changing
would stay in their hearts for a consumer needs
long time, was no longer going to were and despite
make cameras. of inventing the
At the time, many people first digital camera
commented that the evident in 1975, they
downfall of the company was due didn’t bring it to
to the fact that they failed to the market
move effectively to the digital because of the
photography and couldn’t keep up near-sighted view.
with the changing times.
 Your Task
Below is given a list of companies/products that failed because of failure to
understand the market:

Yahoo! Google Glass

Nike + Fuelband

Suzuki Kizashi in India

BlackBerry
Uber in China
 Your Task
Pick any 2 companies from the above list and perform a 3-tier
operation.
1. Give a brief intro of the company/product.
2. State reasons for why the company/product failed.
3. Use SECONDARY RESEARCH to understand more about the product, the
company and the market and let us know your suggestions of how the company
should have marketed its products to stay relevant.
Good Luck!
And Welcome to IIFT!