BUISENESS MANAGEMENT
MARKET RESEARCH
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
focuses on issues of media effectiveness, selection, frequency, and ratings
|
|
|
concerned with the size and location of a market, the competition, and segmentation within the market for a particular product
|
|
|
research that centers on evaluating product design, package design, product usage, and consumer acceptanceof new and existing products
|
|
|
designed to obtain information on how people feel about certain products, services, companies, or ideas
|
Detailed explanation-1: -Market intelligence is defined as the information or data that is derived by an organization from the market it operates in or wants to operate in, to help determine market segmentation, market penetration, market opportunity, and existing market metrics.
Detailed explanation-2: -Marketing intelligence is everyday data that is relevant to the marketing efforts of an organization. Once collected, this data can be analyzed and used to make informed decisions regarding competitor behaviors, products, consumer trends, and market opportunities.
Detailed explanation-3: -The four cornerstones of Market Intelligence are Competitor Intelligence, Product Intelligence, Market Understanding, and Customer Understanding.
Detailed explanation-4: -The purpose of marketing intelligence is to understand customers and their consumer behavior. This means that marketing intelligence is client-focused. By contrast, competitive intelligence is data that’s gathered and analyzed to understand a company’s competitors. This type of intelligence, thus, is business-focused.
Detailed explanation-5: -Competitive intelligence (CI) is the practice of monitoring, gathering, and analyzing data – through legal and ethical means – on your competitors and industry to make better business decisions. It can help brands identify gaps in their strategies and discover growth opportunities.