market research

Question 1

market research

Answer 1

the systematic and objective identification, collection, analysis, dessemination, and use of information that is undertaken to improve decision making related to identifying and solving problems

Question 2

market research 2 types

Answer 2

-identify problems
what is the underlying problem facing business
market potential or share
market characteristics
forecasting or trends
- solve problems
inform specific marketing actions
segmentation
marketing mix

Question 3

marketing research process

Answer 3

• define the problem
• developing an approach to the problem (primary secondary data)
• formulating a research design (blueprint, qualitative, quantitiive)
• doing fieldwork or collecting data
• prepare and analyse data
• prepare and present the report

Question 4

marketing research importance for situation

Answer 4

• does the manager have positive attitude.
• are enough resources available
• is more information needed
• does the value of additional info exceed the cost of research

Question 5

marketing information issues

Answer 5

international marketing research
social media
ethics