Explanation should include
- defining marketing research as the marketing function linking the consumer, customer, or public to the market through information by
- determining consumers' attitudes and preferences
- testing product features
- determining market size and growth potential
- learning about competitive products
- determining buying cycles
- understanding how the organization is perceived by the public
- stating that through the process of gathering and analyzing data, marketing research enables the organization to make sound decisions leading to business success
- using social media communities (e.g., Facebook) to interact with customers, share information, or recommend products.
Process/Skill Questions:
- What is the difference between primary and secondary marketing research? What is an advantage of using each?
- What are the major forms of primary marketing research? How is each accomplished?
- How is marketing research similar to scientific research? How is it different?
- How do companies use marketing research to remain competitive in a global environment?
- Why should marketing research be an ongoing process?
- What are some limitations of marketing research?