BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Defining the business scope and served market segments.
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Understanding the environment and the market.
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Refining strategies and program.
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Pricing.
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Detailed explanation-1: -a systematic approach to the achievement of marketing goals. Steps in the process include situation analysis; setting of objectives; strategy formulation; development of action programs; implementation; and control, review and evaluation.
Detailed explanation-2: -What is Situational Analysis? Situational analysis is a process of examining a company and its competitors on the basis of size and share of the market, sales history including costs and profits, the use of advertising, the nature and types of customers and more.
Detailed explanation-3: -Monitoring of the marketing plan results: The marketing plan should include the process of analyzing the current position of the organization. The organization needs to identify the strategies that are working and those that are not working.