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Benefits of Market Research

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What benefits are there to conducting market research and what are the consequences of not doing so in advance of making a purchase? Be sure to site your source.

As a bonus, here, an entertaining video clip addresses marketing failures from the seller side which does market research related to customers and their interests, desires and needs. View the presentation from the perspective of how the consequences of inadequate market research might have contributed to the failures.

http://www.youtube.com/watch?v=hxRqKgjD3vY

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Solution Summary

The benefits of market research are explained as well as the consequences of failure to do so prior to completing a purchase.

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https://www.brafton.com/news/94-percent-b2b-buyers-research-online-purchase-decisions/

http://www.marketingprofs.com/opinions/2013/23874/five-reasons-why-market-research-matters-and-five-tips-for-using-it

http://www.nielsen.com/us/en/insights/news/2016/what-are-connected-shoppers-doing-and-not-doing-online.html

The benefits that consumer derive from conducting market research before making purchases are that this allows the consumer to gather information on the product and obtain more knowledge about what they are purchasing before completing any ...

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  • BS, Sam Houston State University, 1903 University Avenue, Huntsville, Tx 77340
  • MS, Prairie View A&M University
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