Explain the purpose of marketing research. As a control function, what type of control is marketing research?
Expert Answer
Market research is an overall term for ways to gather data about how satisfied customers are with the product, gather data about the product’s potential in attracting new customers and what influences buying decisions. Purpose of marketing research are given below:
Research guides your business’s marketing plan and the four Ps of marketing: product, price, place and promotion. This gives you the information about how the above factors will behave.
You can research about the purchasing habits, slogans, advertising recall, and product
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