Title: Define the steps of market research.
Course: Make It Your Business (12151-18) > Section: Conducting a Needs Assessment

Definition should include explanations of these basic steps:

- Define the problem and/or opportunity (e.g., demographics, product category, pricing).
- Select a research method.
- Identify type(s) of data to be collected.
- Collect data.
- Interpret the data.
- Determine a course of action
- Implement the course of action.

Process/Skill Questions

- What is market research?
- Why is each step in conducting market research important?
- What types of data are used for market research?
- What are the pros and cons for different methods of data collection?
- What is the difference between primary and secondary data? Why are both needed in market research?
- How is market research used by a business?