Title: Describe the steps in developing a market research project.
Course: Sports and Entertainment Management (12163-II) > Section: Understanding Market Research

Description should include steps such as the following, as well as ways the Internet can be used throughout the process:

- Define the problem.
- Analyze the situation.
- Develop a process for collecting data.
- Collect, organize, and analyze the data.
- Determine a solution to the problem.
- Evaluate the solution.
- Prepare the report.

Process/Skill Questions:

- How does a business determine the timing for market research?
- How is database management used in market research?
- What is the importance of a sales forecast during the market research process?
- How does a company decide whether to outsource research or conduct it in-house?
- How does a company evaluate whether it has identified the correct problem to research?
- How does a company determine which trends are relevant to its business?