Question

After locating and defining problems or issues, the next step in the marketing research process is to _____________. a. collect data b. report research findings c. conduct surveys d. interpret research findings e. design the research project

Answer 1

Answer:

Design the research project.

Explanation:

Marketing research can be defined as the process in which information about a particular product that is to be sold in the market is assembled and studied. Market research also analyses information about the potential customers, their spending habits, the amount of competitors in the market and also the location of the product target market.

There are two types of data involved in market research:

1) Primary information: This is the information that is assembled by the individual person.

2) Secondary information: This is the information that has already been gathered and analysed by other people.

There are five steps that are involved in marketing research process.

1) Locating and defining problems.

2) Designing the research project.

3) Collecting data.

4) Interpreting the data gotten from the research.

5) Reporting research findings.