BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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marketing research
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test marketing
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performing a case study
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conducting experiments
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Detailed explanation-1: -What is Marketing Research? According to the American Marketing Association, marketing research is the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services.
Detailed explanation-2: -What is market research? Market research is the process of gathering information about your target market and customers to verify the success of a new product, help your team iterate on an existing product, or understand brand perception to ensure your team is effectively communicating your company’s value effectively.
Detailed explanation-3: -Market research is a process that aids business decisions. It involves systematically gathering, recording, and analyzing data and information about customers, competitors, and the market.
Detailed explanation-4: -Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be. If the market for a new venture is highly concentrated, it is advisable to consider direct sales.