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Marketing Research

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University of Toronto Scarborough
Management (MGM)

Marketing Research Marketing Research J is the collection and analysis of information that is used to solve a marketing problem or understand the potential market. Intuitive decision J is based on feelings and prior knowledge. It is made automatically and instinctively, usually because the person making the decision has made many similar kinds of decisions in the past. Hard Data J information that is supported by facts. Marketing research is needed when the company decides on expanding the store or when strong competitors enter the market. Marketing research firms provide business with professional researchers } }oo 7Lo7L]LZZ]ZoL}Z ]] Z]LZZ[ZKl]L2}: Secondary data is marketing research information that has been gathered from sources that have been published or gathered previously. Secondary research involves searching for this type of information and ZLLo]L2L]L]L2Z}]K} }KL[ZKl]L2}Z:Z[o]Zo]K] because it is second-hand however; it is still used because it is less expensive. (E.g. books, periodicals, indexes, internet, consultants, and marketing research professionals). This data can be used by any business to help develop its marketing strategy and to assist its marketing executives in decision marking and problem solving. Primary data is information released by a researcher for a specific purpose. It is unanal
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