Discuss the process of conducting marketing research. Think about new product ideas for the working adult student population and discuss potential survey questions you think would be sufficient to gather evidence and data to gauge interest in your product(s).
Discuss the process of conducting marketing research.
Conducting market research is very important hence, there is a need to learn on market research techniques and resources needed for the business planning process and preparing the business plan. Market research greatly helps in being able to make decisions based on hard data rather than simply relying on gut instinct. The process of conducting market research involves gathering, interpreting, and reporting data to take advantage of market opportunities or solve a marketing problem.
1. Setting research goals is an essential start to a successful market research. It helps determine the types of research needed which depends on one's research goal which is a statement one is seeking to prove.
2. Gather and analyze data - After setting goals and formulated it to a statement, identify the types of information needed to prove the research statement and collect it. There are two categories: primary and secondary and sometimes one can conduct both and start with secondary research ...
The solution discusses the process of conducting marketing research. It also lists down new product ideas for the working adult student population and potential survey questions that would be sufficient to gather evidence and data to gauge interest in the product(s). References included.