Question

What is the first step of the marketing research process? defining the research problem and establishing research objectives analyzing, interpreting, and summarizing the results determining the sources of information to fulfill the research objectives gathering the relevant data from secondary or primary sources, or both considering the costs and benefits of the research effort

Answer 1

Defining the research problem and establishing research objectives are  the first step of the marketing research process.

• Identifying the problem and relevant topics is the first step in the marketing research process.
• After that, you can formulate a strategy and conduct research for the design.
• The gathering and analysis of data is the next step in the research process.

There are six steps in the marketing research process:-

• Problem definition is step one,
• Problem approach development is step two,
• Research design formulation is step three,
• Data collection is step four,
• Data preparation and analysis is step five,
• Report preparation and presentation is step six.

What is the marketing process?

In order to research market prospects, select a target consumer, and develop a comprehensive marketing plan to engage with those customers and qualify leads for the sales team, a company must first go through the marketing process.

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