ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Marketing research:
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is used toobtain information for management to make more informed decision making.
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is thecollection and analysis of data from a sample or census of individuals ororganizations.
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includes allforms of market, opinion and social research such as consumer and industrialsurveys.
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is workundertaken to determine either structural characteristics of the industry ofconcern.
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Explanation:
Detailed explanation-1: -Market research (or marketing research) is any set of techniques used to gather information and better understand a company’s target market. Businesses use this information to design better products, improve user experience, and craft a marketing strategy that attracts quality leads and improves conversion rates.
Detailed explanation-2: -Marketing research is the process of collecting and analyzing data from consumers and competitors to help businesses explore who their target customer is and what they want from the brand. Good marketing research can also provide insight into how effective marketing efforts are, and explore potential areas for growth.
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