Conducting Market

The procedure of the study The survey sought to establish findings on the of space tourism, as projected to be thecase happening by the year 2020. In evaluating the survey as I experienced, there are several aspects worth noting from the procedure of the study. The procedure of the study entails first, an introduction of the topic, as well as, a description of the topic accordingly to enlighten the participants on the course they are about to undertake. The introduction defines the topic, and presents the expected background information on the topic. Thus, from this approach, the study observes the need for the participants to have the proper and accurate briefing on the exercise, so that they get to respond genuinely. Therefore, participating in this exercise, I had the background to make informed responses with respect to the questions asked.
The questions presented in the study have the categorical focus on understanding the target market and the expansiveness of the market as well as the capability in terms of financial wellbeing. In these themes of the study, there are questions in the survey about the interest of the participants in becoming future space tourists, as well as, how often they access reading material that relates to space tourism. In these questions, the study evaluates the existent awareness of the participants on the topic that is space tourism. Further, the study follows through, evaluating the willingness of the participants, in the future, to spend on space tourism. In this respect, the procedure of the study evaluates the key dynamics that entail the topic, from the awareness about the topic, to the willingness to consider the offers of the topic that is space tourism. Thus, in this respect, the procedure of the study is very effective observing the key elements of market research.
Contribution of the study to knowledge on market research
The aim in conducting market research is to clearly establish the awareness in the consumers as well as, increase their knowledge so as to influence the decision making and perceptions towards the product presented (Proctor, 234). In this respect, the course of this study proved notably very key in its focus. Notably, the study focused completely on the product, which is space tourism. The study identified that the consumer needs to have the expected awareness, of the product. Thus, the study focused on establishing the existing awareness of the product among the consumers, then proceeded accordingly, to evaluate the market and its coverage. The study proved very enlightening to my knowledge, particularly on the existence of space tourism, which incorporates taking ride on a hot air balloon, to view the earth surface from above. This realization sparked interest in me to participate in space tourism. Additionally, the study also opened my eyes to the possibility of planning in future to engage in space tourism, once the market is fully established and there is the space ship for that purpose.
Moreover, in contribution to my knowledge on market research, I observe that the structure and procedure of the study is accurately focused on the target market and specially tailored to address the key factors in the market. For instance, it initiated my feelings towards preparing to participate in a space tour at a point in my life. This reflects the influence of the study on my decision making towards the product. Thus, in this respect, marketing research achieves the purpose to create awareness as well as, increase knowledge on consumers. hence, influencing their decision making towards the product offered in the market.
Work cited
Proctor, Tony.&nbsp.Essentials of Marketing Research. Harlow: Financial Times Prentice Hall, 2006. Print.