Analysis should include the concept of market research and incorporate the purpose and importance of the following research tools:
- Data analysis
- Sales forecasting
- Test marketing
- Competition analysis
- Technology trends
Process/Skill Questions:
- What are the research methods businesses use to conduct research?
- What are the five steps of the market research process?
- Which steps of the market research process are most expensive to perform, and which are most cost effective?
- How have online tools improved the market research process?
- What are the six major steps in a market analysis?
- What types of tools are most commonly used in marketing analysis situations? Why is each important?
- How does market research affect travel and tourism employees and customers?
- What technologies are available and useful for research?