See

discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/279537078

The significance of market research to

businesses

Conference Paper January 2015

DOI: 10.13140/RG.2.1.1618.0326

CITATIONS READS

0 851

1 author:

Agim Zuzaku
Universiteti Europian i Tirans
9 PUBLICATIONS 0 CITATIONS

SEE PROFILE

Some of the authors of this publication are also working on these related projects:

MARKET RESEARCH AS FACTOR FOR DEVELOPMENT OF BUSINESS - THE CASE OF MARKET RESEARCH
IN KOSOVO View project

All content following this page was uploaded by Agim Zuzaku on 03 July 2015.

The user has requested enhancement of the downloaded file.

 Agim Zuzaku
123, Kadri Halimi, 60000, Gjilan, Republic of Kosovo

Introduction Results
This thesis explores the role and importance of Descriptive statistics was used to analyze the socioeconomic features of businesses while the Binary Logistic
market research in Kosovo based on the need of Regression model was used to capture the factors determining businesses willingness to pay for Marketing
market research and marketing to influence the Research. The research has been focused on the annual income of businesses, investment in marketing, market
effective management of businesses. Today, research realization by businesses, and their willingness to make decisions from market research and willingness
marketing plays a significant role in the company's to pay for market research services.
strategy. Unfortunately many businesses do not solve
this problem adequately, without giving the necessary
importance of market research. This paper shows the
importance of marketing research and market
research, and what exactly it means to invest in
market research.
The main aim of this thesis is to explore the state of
business in the last 5 years in Kosovo. The research
aims to test several variables that affect the
businesses to invest in marketing in general and
particularly market research. The main question the
study raises is: How much is estimated market
research in decision making by businesses? This
thesis will be explored primarily through the prism of Figure 1. Market Research Figure 2. Investing in Marketing Figure 3. Willingness to pay for MR
business decision-making and impact of research in
their development. As shown in Figure 1, only 28.6 percent of businesses surveyed have conducted market research. Meanwhile,
The hypothesis of this study is: Investing in market 71.4 percent have never conducted market research. In Figure 2 we see that more than half of businesses or
research by the companies, affects business 55.5 do not invest on a regular basis in marketing. While only 44.5 percent of them invest regularly and have a
development of companies, by reducing uncertainty contract with marketing companies. Figure 3 shows that 73.3 percent declared that are willing to pay for market
in decision making. research services. In the table below in the description of the statistics, is seen that only 3 percent of businesses
Market research often spreads consultancy, surveyed have invested in marketing.
generating ideas or solving problems. Good research Descriptive Statistics
often includes all these elements. This is also a time
N Minimum Maximum Mean Std. Deviation
of change for the market research industry and for
Anual Income 2013 384 50000.00 17639689.00 852277.8125 2410704.82979
this reason it is difficult to determine its limits clearly
(Keegan, 2009).
Anual Income 2012 384 48000.00 16934101.00 818186.6484 2314276.60185

Anual Income 2011 384 46080.00 16256737.00 785459.2188 2221705.54942

Anual Income 2010 384 44237.00 15606468.00 754040.8646 2132837.36972

Materials and methods Anual Income 2009 384 42467.00 14982209.00 723879.2057 2047523.83228
The study was conducted through quantitative
methods, which are collected and processed data Investing in 384 2332.00 705588.00 26090.9453 54105.98742
from interviews of business activities: production, Marketing
service and trading, through a representative sample Valid N (listwise) 384
with confidence level 95% and confidence interval of
5, where the sample population, was the register of
business registration in Kosovo.
2 (1 )
>
2 market research during the development of programs
Where: Conclusions for the development of businesses in Kosovo. And
Z = Z value 95% z =1.96, (e.g. 1.96 for 95% special attention be given course to market research in
confidence level) From this research we conclude that the number of higher education institutions, since it is a good basis
p = percentage picking a choice, expressed as companies in Kosovo that invest in market research is for future market research knowledge to be applied in
decimal (.5 used for sample size needed) insufficient to have a business development in general. practice.
e = confidence interval, expressed as decimal e=0.05 Although most of them have stated that you are willing
(e.g., .05 = 5) to pay for market research, it is not proved in practice.
2 (1 ) 1.962 0.5 0.5 Also, a small percentage of only 3 percent of the
> 2
= 2
= 384.16 average investment of surveyed companies that invest
0.05
minimum sample size would be 384 of businesses in marketing, has led to the Kosovo number of
from 130,742 that are registered in Kosovo Business businesses failed to reach the 16% registered in 2013
Registration Agency. (Statistical Agency of Kosovo , 2014).

Interviewing was conducted face to face with the
owners or managers of businesses through a
structured questionnaire. Sample selection was
random. Data analysis and processing are carried out
through SPSS.
We recommend that the Government of Kosovo to
invest more in raising awareness among businesses
for market research. Also donors to pay attention to

Kotler, P., & Caslione, J. A. (2009). Chaotics: The

Literature cited
Cupman, J. (2014, March 31). The Role Of Market
Research In Decision Making.
Graves, P. (2010). The market research myth, the
Truth about Consumers and the Psychology of
shopping. London; Boston: Nicholas Brealey
Publishing .
Keegan, S. (2009). Qualitative research : good
decision making through understanding people,
cultures and markets. London, Philadelphia:
Kogan Page Limited.
Kent, R. (2007). Marketing Research: Approaches,
Methods and Applications in Europe. London:
Thomson Learning.
View publication stats
Business of Managing and Marketing in the Age
Acknowledgments
of Turbulence. New York: American Management I want to thank the companies: ESG and MPR &
Association. Consulting for sponsoring the participation in this
conference, without whose contribution I could not take
Malhotra, N. K. (2008). Review of Marketing part in the scientific symposium.
Research (Vol. 4). Armonk, New York; London,
Contact email: azuzaku@gmail.com
England: M.E.Sharpe, Inc.
Proctor, T. (2005). Essentials of Marketing Research
(4rth ed.). Harlow, England: Pearson Education
Limited.
Szwarc, P. (2005). Researching customer
satisfaction and loyalty. London; Sterling, VA :
Kogan Page.
Wardle, J. (2002). Developing Advertising with
Qualitative Market Research. London: SAGE
Publications Ltd.