Factors Marketers Consider in Market Research+ Strategies
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What factors do marketers consider when looking at market research? How do marketing strategies differ when targeting the four market target levels (segments, niches, local areas, and individuals)?
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Solution Summary
This solution outlines factors marketers consider when looking at market research. It also outlines how marketing strategies differ when targeting the four market target levels (segments, niches, local areas, and individuals. It includes links.
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Marketers are typically looking for a solution when looking at market research. Market research can enable a marketer to make better decisions by examining brand loyalty, name awareness, perceived quality, and brand associations, for instance. In looking at market research, marketers must consider if the research is the result of principles of the scientific method: hypothesis, prediction, and testing. The goal of market research is to uncover useful information so it is key that the research is accurate. It is also important to consider the cost of market research when considering the results. One may look at information and be surprised at its' brevity. As a result, perhaps one might draw an incorrect conclusion, if the marketer did not realize that funds were limited for the research or the research was not done with an eye to accuracy. The ...
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