business marketing

... Business homework (page 27) 1. A cosmetics firm could use market research to: o Identify their target market, how old is the target market? Male or female? What kind of income range are you aiming it at? etc. o What does the consumer like or dislike about the product, is it value for money? Does the customer like the packaging? o How much a customer would prepare to pay for the item; to much and no one will buy it to cheap and they'll won't believe what it says it does. 3. Primary research- is first hand information, data you or your firm has collected it themselves, and this research gathers information from people inside your target market. Secondary research- is where firms use data that already exists and has not been collected by the firm, this data is therefore secondary. 4. Advantages to using secondary research compared to primary include; It is convenient you can usually find

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