Market research 1 -The marketing research process,scope etc for your Essay

Market research 1 -The marketing research process,scope etc for your chosen scenario - Essay Example Simultaneously, the applicability of various techniques for the proposed study will be studied and the best method will be identified. The market research is meant to identify the requirements of the customers visiting a bank. The research attempts to identify the importance the customers gave towards features like security of transmission, the customer-banker relationship, the bank’s array of services, and foothold amongst other factors. The research will not be testing as to how the customers actually perceive the services provided by the bankers, but just their expectations. The research will make an attempt to form conclusions to identify areas where the bankers should focus upon. Bank customers demand a varied type of services from their banks apart from the traditional ones they already provide. One of the most important among them is a hassle free and fast transfer of our funds. An ideal way of transferring funds is to convert physical money to an electronic one that can facilitate a large number of aspects ranging from increased efficiency in money transmission, low transaction cost in money transmission, expansion of economic activities on the internet and opening up of new businesses opportunities. However, these increased facilities are not free of problems. The most important one that the bank customers face is related to security issues. Another problem often faced by bank customers throughout the world is that of a weak customer-management relationship. People are very concerned about their hard-earned money, and often seek expert advice on them issues related to their investment. It is expected from the bank management to enrich them with their experience. But often it is found that the banks fail to attain friendly terms with their customers that would provide the latter with the freedom to interact. (Susan Ward, Customer Relationship