As an intern in the field of market research, I am learning what it is like to be in a career setting, as well as getting a feel for what market research truly entails and if it is where I see myself in the future. On a daily basis, I am putting into practice the information I’ve been learning in my marketing courses and applying it to my work. But, while researching information for a blog post, I noticed a gap between my life as a student and my life in the “real world.” The information I am being taught in my marketing courses does not always match the information industry leaders are saying out here in the working world.

With the fast-paced lifestyles of the average U.S. consumer, simplicity of snacks and beverages is a must. Bottled water has been around to fill that need since the late 1700s, but even today bottled water is seeing a bright future. As health awareness continues, consumers are going to continue switching from carbonated soft drinks to water. Marketers from companies around the globe need to embrace new ideas for water to ensure their bottles are picked off the shelves.

Market research projects can be a long and grueling task, requiring extreme dedication in order to obtain all the information you need to move your company in a positive direction. Market research allows organizations to get a better and deeper understanding of the market that surrounds their products so they can adjust their strategies accordingly. Even with the difficulties that market research can create, the hardest part isn’t until the end of the process: the market research presentation.

There are few products that can sell themselves. Because of this, we have advertising. Advertising your product can establish your organization’s identity, promote your latest product, attract new customers, remind old customers of how great you are, and, of course, boost sales. How to advertise your product or business successfully is not a guessing game, it’s an extended market research process.

Some of the most successful companies in a range of different industries have made their way to the top because of their marketing strategies. The decisions these industry leaders have made based on how they market their product have led to successful growth and popularity among consumers. To successfully implement these positive marketing strategies, these companies had to create a specific market research budget to ensure they had enough information to effectively promote their product to the world.

The Information Technology (IT) industry encompasses many different sectors, all of which receive make-overs on a frequent basis because of the constantly evolving nature of the industry and resulting new discoveries. While many IT trends change quickly, there are some trends that are sticking and expanding into bigger ideas for future technologies. Some of the most notable trends include: mobile diversity, software-defined networking, smart machines, 3-D printing, the internet of everything, and cloud computing.

Technology continually serves as the underlying factor in the changes that occur in different industries. For the transportation and automotive industry, technology has continued to push innovations in efficiency, lightweight materials, connectivity, and energy. Companies within the industry notice trends resulting from these improvements for future automotive developments. The North American automotive industry is not only the biggest market, but it is also the technological leader across the globe with some of the biggest names in the industry. With the market recovering since the recession, the next five years are expected prompt major changes that will impact the way cars are manufactured and used.

Developing a new business idea, and then turning that idea into a reality, is one of the most exciting events in an entrepreneur’s career. However, starting a new business venture can be extremely difficult, even when it might be something you are knowledgeable and passionate about. When a company struggles with any one aspect of the business, recognizing the need for a change of direction can be referred to as pivoting. Failing to have an accurate understanding of the market for your product can lead to problems that cannot be fixed easily.  Pivoting for a company can be a dramatic or small change, with either way having the overall goal to change the business model for a product, strategy, or idea that promotes company growth.

As the market has developed and grown, the Advanced Materials and Chemicals sectors of the manufacturing industry have been two of the fastest growing sectors. Chemicals is one of the oldest industries within manufacturing and has continued to play an important role in the day-to-day needs of the population as well as the industrial and economic needs. Trends in new technology, emerging markets, and the need to “go green” have transformed the chemical and advanced materials market.

When your company launches a product, the marketing needs are going to evolve alongside the product as it progresses through its life cycle. There are four main stages of the product life cycle: introduction, growth, maturity, and decline. Each stage of a product’s life cycle will require different forms of market research to most effectively market your product in the industry.