Title: Explain how market trends are monitored.
Course: Small Business Marketing (12161) > Section: Examining Marketing Information Management

Explanation should include

- supply chain/vendor insights
- competitor analysis
- consumer behavior analysis
- sales/inventory data
- economic/market indicators
- technology/digital tools (e.g., AI, social media)
- market research and industry reports.

Process/Skill Questions:

- How do retail businesses collect and analyze information about customer behavior?
- How can businesses monitor competitor activity to identify market trends?
- Why is it important to track trends?
- What are the challenges and opportunities of tracking trends in business?
- What type of market research is used to analyze trends in small businesses?