ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business’s ability to predict what its competitors are planning
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The action or activity of gathering information about consumers’ needs and preferences
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The development of new methods of communication so as to connect further with customers
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An academic process which analyses the changing trends in society
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Detailed explanation-1: -What is Market Research? It is the action or activity or gathering information about consumers’ needs and preferences. What types of data does Market Research involve? It is involve with Primary Research and Secondary Research .
Detailed explanation-2: -Customer needs research typically employs qualitative and/or quantitative research to classify and rank the needs, wants, and expectations of target customers and/or consumers during key interactions (touchpoints) along the customer journey.
Detailed explanation-3: -They can use market research to make sure there is demand for their product or service before they launch it. To provide information on whether people like the product. This means changes can be made to the product to meet the needs of the customer.