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Question
State any two features of Marketing Research.
Solution
Two features of marketing research are:
- Objective and Systematic Approach: Market research is undertaken in a controlled and objective manner. Systematic data gathering and analysis ensures accuracy and reliability. A structured research approach provides firms with unbiased and valuable findings to inform strategic decisions.
- Customer Centric Focus: Market research focuses on understanding customers needs, preferences, and behaviours. It enables firms to understand their target market better, identify client segments, and create effective marketing strategies. Putting the customer at the core of research can help organisations align products, services, and marketing to satisfy expectations and create a competitive edge.
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