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Marketing Research: Data Mining

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What are the primary reasons for doing market research? How are primary and secondary data used in subsequent marketing including the use of questionnaires, observations, experiments, and panels? How can and why can data mining be used in an effective marketing effort?

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Solution Summary

Reasons for doing market research are listed in the solution. The use of primary and secondary data, and data mining are also explained.

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Market research helps to define the target markets and secondary markets your product should be engaging. Market research also helps gauge public sentiment and how your product or services will be received. It is also a major part of strategic planning.

Since data is useful for many things I will only note a couple and this should guide you to the others. Primary data is what you obtain through your own efforts. The use of this data will help you create research and ...

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