GK
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
monitor
|
|
|
test hypotheses
|
|
|
explain
|
|
|
predict
|
Detailed explanation-1: -Marketing Research (Marketing Research) is a process that you need to do before starting a business. It aims to obtain objective and accurate data which can then be used as a reference in making decisions.
Detailed explanation-2: -Market research plays a role at every stage of product development, from identifying needs and opportunities to how you go to market. You can apply both qualitative and quantitative data to create a product that will satisfy your customers’ needs and align with their motivations.
Detailed explanation-3: -Simply stated, market research is defined as the process of gathering data on goods and services to determine whether the product or service will satisfy customers’ needs. Market research can identify market trends, demographics, economic shifts, customer’s buying habits, and important information on competition.
Detailed explanation-4: -Puts consumers first. Customer research allows marketers to get to the heart of what people want. Helps the company focus. Keeping a focus on the perspective of the customer is critical to all businesses. Keeps you relevant. Minimizes risks. Defines your audience.