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What is 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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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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Marketing research is a form of business research. It includes Business-to-Business (B2B) Marketing Research and Consumer Marketing Research. B2B Marketing Research investigates the markets for products sold by one business to another, rather than to consumers. Consumer Marketing Research is a form of applied sociology which concentrates on understanding the behaviours, whims and preferences, of consumers in a market-based economy.

Marketing Research is a systematic process of gaining information through primary or secondary sources about customers, competitors and the market. The key steps involved in any marketing research project are:
- Definition of the problem
- Developing a framework or approach to the problem
- Forming Research Design: defines the procedures for obtaining required information
- Data Collection
- Data Analysis
- Report Preparation & Presentation

How has the Internet impacted marketing research? As a part of your answer, be sure to address time, cost, approaches, and validity.
Internet has made a revolution in the way marketing research can be conducted. Respondents can be contacted for different types of marketing research like focus groups, personal interviews, surveys etc through internet.

Marketing Research can be conducted online at a fraction of the cost as compared to offline marketing research. In ...

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