MKT 100 Lecture 9: MKT1003.2

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Yanina Chevtchouk

Document Summary

Marketing research includes all activities undertaken by the company to gather information about the market, its customers, competitiors, current and future products and services. Provides market insights: market becomes more complex in dynamic with new. 1. competitors constantly entering the market and new products being regularly introduced. The pace of change is increase dramatically and marketers must understand that the larger market landscape in order to posittion their products effectively and to accurately forecast current and future demands. 2. conducting the marketing research project to test the appeal of the product to the target audience in advance. Saves money - cost of launching and marketing a dud are huge compared to the costs of. Can include need of information about broad consumer and market trends or information about what comeptitors are doing or specific information about consumer behaviour; what, when and where they buy. Particularly in the product/service category that relates to the company.