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Market Research
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- Words:
- 749
- Submitted:
- Thu Jul 11 2002
... Market Research by Christopher Currie 11D What is market research? Market research is the process of obtaining information about the market for new and existing products Businesses use a wide range of market research techniques to find out what customers want this involves asking the following questions: 1) What is the target market? 2) Where are they? 3) What do they want? 4) When do they want it? 5) Can we satisfy them? 6) How can we improve it for them? By obtaining this information it then proves useful for deciding who to launch my product at, what age to launch my product at, which area to sell my product in, how many bars to sell there and how can I improve the product. Methods of Market Research A Firm may choose to set up its own marketing department or employ an outside specialist organisation to carry out market research. There are two main methods of market research: What is
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