Market Research: Phases & Methods
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Market Research Fundamentals
Market research involves collecting and analyzing information a company needs to make marketing decisions.
Phases of Market Research
- Define the problem and research objectives: Clear objectives help achieve clear results.
- Design the research plan: Decide how to carry out the research and methods for obtaining information.
- Search for and obtain information: It is essential to distinguish between secondary and primary information.
Secondary Information
Information that has been developed for purposes other than the research being carried out. It can be internal or external, depending on whether the information is inside or outside the company.
Primary Information
New information generated through surveys, experimentation,