BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Which of the following is an important question for marketers to ask before creating a research design? Who is our target market? What new products do we like? What do we want the results to be?

Detailed explanation-2: -Some of the overarching goals that market research can help organizations accomplish, include: making important business decisions, securing investments and funding, determining new business opportunities, and even avoiding business failures.

Detailed explanation-3: -The most important part of the marketing research process is defining the problem. In order to do any research and collect data, you have to know what you are trying to learn from the research.

Detailed explanation-4: -The first step in the marketing research process is defining the problem or the question your research is trying to answer, followed by developing a research plan to answer that question, collecting and analyzing the data, and then producing a report.

Detailed explanation-5: -By implementing Quantitative Market Research, questions like “Who are currently buying my products/services?”, “Why are the others not buying my product?”, “How to reach out to my potential clientele?” are answered.