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Marketing Research and Information Systems Prediction

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How could marketing research and information systems help a firm accurately predict demand for new and existing products? Do you have any experience with this being applied within your organization?

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This solution of 154 words explains how marketing research and information systems help a firm predict demand for new/existing products. An example is included to illustrate the concept.

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Marketing research can help gauge and evaluate market trends, attitudes or consumers, purchasing power of the people, competition put up by competitors, and the image of the brand or organization that is prevalent in the market. Tools from information systems ...

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