Market research

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  • Created by: Jeon32666
  • Created on: 03-02-19 10:44
  • What is market research? This is the process of collecting,recording and analysing data about customers,competitors and market.             
  • Why market research is needed? 1)To reduce the risks associated with new product launches. 2)To predict future demand changes.  3)To explain patterns in sales of existing products and market trends.  4)To assess the most favourable version of a product. 
  •  THE MARKET RESEARCH PROCESS 
  • STEP 1: management problem identification
  • STEP2: research objectives
  • STEP3: sources of data                                                                     TWO TYPES OF MARKET RESEARCH:
  • primary research,secondary research.
  •  Sources of secondary data..... Government publications, Trade organisations, news paper report and market intelligence reports. 
  • Advantages of secondary research…

Comments

Exthinker

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Thanks for sahring this infomation. I am educating myself in this domain, and it is pretty useful information
Exthinker

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I respect your point, but I can't entirely agree with it. The prices nowadays are jumping so hard. I am using different websites to inform myself about the market, and I am shocked how prices are rapidly going up for electricity and other vital things in different counties. I have observed that Energy and Power Market Research Reports show that the electricity prices will blow up. Soon, I will install solar panels in my house to save some money in the future. Also, this is more ecological. This is a good investment, in ou future.

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