1 Market Research, Assessment and Forecasting
The ultimate success of any commercial organization depends upon its ability to determine its customers' needs. Even before product and service offerings are designed, a seller must learn about its customers and competitors. Sellers obtain this information through a variety of market research methods, environmental scanning efforts and competitive intelligence activities. In order to achieve meaningful results, engineering managers need to possess knowledge of the basic tools and techniques required to gather and analyze this customer-driven data.