Identify the type of market research data based on the characteristics below:Data that can help companys understand consumer wealth, demographic data (US Census), etc to drive business decisions.

MARKETING MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Identify the type of market research data based on the characteristics below:Data that can help company’s understand consumer wealth, demographic data (US Census), etc to drive business decisions.

A	Company data
B	Competitor data
C	Government data
D	Market research data

Explanation:

Detailed explanation-1: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.

Detailed explanation-2: -There are two sorts of data used in marketing research: primary data and secondary data. Both types of data have their set of advantages and disadvantages. Both forms of data are also collected using different approaches.

Detailed explanation-3: -Market research is conducted either through primary information or secondary information, both providing unique insights into a company’s offering. Market research is a key component of a company’s research and development (R&D) stage and is a key aspect of its success and growth.

Detailed explanation-4: -Competitive Analysis. When businesses have nowhere else to start, they can always scrap data about their competitors. Brand Sentiment. Customer Decision-Making. Customer Segmentation. Market Messaging. Product Pricing. Product Development. 19-Dec-2022

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GENERAL KNOWLEDGE

GK

MARKETING MANAGEMENT