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What is marketing research? What is its importance to marketing management? What are some of the more common sources of information used by marketing? Explain also what is meant by the marketing information system and by consumer behaviour.
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What is marketing research? What is its importance to marketing management? What are some of the more common sources of information used by marketing? Explain also what is meant by the marketing information system and by consumer behaviour. Marketing Research Marketing research is the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing by a company. Marketing uses research when it needs information about a specific situation, as marketing intelligence will not provide the detailed information needed. A company can conduct its own marketing research or it can use an outside agency for some or all of the research, depending on its research skills and resources. Marketing research includes a wide variety of activities, such as: Market potential studies Market share studies Customer satisfaction assessment Purchase behaviour studies Marketing mix studies Importance To Marketing Decisions The marketing research helps marketing management in two aspects: information analysis and distributing information. Information analysis: Information gathered by research...
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