Reference no: EM132987976

REAL BUSINESS

As you learned this week, understanding your competition and adjusting your own business accordingly is critical to a business's success. A large discount retail store like Target competes not only with other discount retail store stores but also with those stores that offer just some of the products Target does, such as grocery stores. Keeping track of all these competitors is quite a task; that's why large companies have a team of market researchers dedicated to managing that research.

Question 1: What is a market research manager?

Market Research Managers are responsible for creating and improving processes for gathering information on various market conditions, competitors, and consumer trends in their companies' industries. They are typically responsible for managing a team of researchers and reporting their findings to the head of the department. Teams across the company then use these findings to help improve products, guide marketing efforts, and more.

As a Market Research Manager, part of your role is to consistently analyze Target's position relative to its competitors and report on these findings. As part of this process, you complete a SWOT analysis for each of Target's main competitors each quarter. The quarter is coming to a close, and your boss has asked for the latest SWOT analysis for Walmart.