Marketing Research
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What is marketing research? How has the Internet impacted marketing research? As a part of your answer, be sure to address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy?
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Solution Summary
The solution defines marketing research and it also explains how the Internet has impacted marketing research. Also, the importance of marketing research in developing marketing strategy is discussed. References included.
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marketing research
What is marketing research? How has the Internet impacted marketing research? As a part of your answer, be sure to address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy?
While market research deals specifically with gathering of information about a market's size and trends, marketing research covers a broader and wider range of activities. It is the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing. It is the function that links the consumer, customer, and public to the marketer through information used to identify and define marketing opportunities and problems; monitor marketing performance; generate, refine, and evaluate marketing actions; and improve understanding of marketing as a process. It specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications. Marketing research has been around for long and it comes in many different forms and has been used in different ways throughout the years. However, it is only meant for one thing: It helps to increase the profitability of the marketing efforts through testing and fact finding. The internet has ...
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