Research opportunity to create a profit.
Explain how the marketing research can benefit profitability of a product. Explain importance of this type of research.
Use data from other businesses who have done similar research to support this claim.
1. Number of accessories purchased to accommodate product---things like cell phones work for this.
2. Month of the year product purchased
3. Time of day product purchased
4. Number of advertisements put out in region for product.
5. Number of products sold at one store
Marketing research provides a strong insight to marketeers about the consumer's perception, needs, wants, preferences and buyung behavior and thus, help them to devise appropriate strategies and make adjustments to exploit the full potential of the market. Marketing research has gain significant experience in today's competitive world where customer ...
How the marketing research can benefit profitability of a product