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Aalyah jaffari Business Essay: "Marketing Research is an insurance policy. You pay a premium to reduce your marketing risks." To what extent do you believe this statement is true? (10 Marks) Market research is carried out by a company before a new product is launched in to the market. This may be the gathering, analysing and presenting of information relevant to the marketing process. There are several different types of research a company can carry out and these may be of the following categories: primary or secondary. Primary research is the gathering and analysing data that has been collected for the first time. On the other hand secondary research is the analysis of previously gathered data. We will now analyse whether market re-search is or is not required for the launch of a product in today's competitive markets. One reason why market re-search could be classified as vital before the launch of...

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