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Question
What is marketing research?
Solution
Marketing research is collecting, analysing, and interpreting data and information about a target market, including customers, competitors, and industry trends. It enables organizations to make more informed decisions by giving information about market conditions, customer preferences, and the efficiency of marketing efforts. Market research uses various techniques to generate significant insights that guide corporate decisions, including surveys, interviews, focus groups, and data analysis.
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RELATED QUESTIONS
Name the marketing function which is concerned with informing the customers about the firm's products.
Name the function of marketing which is concerned with the cost and location of target market.
Name the marketing function which is concerned with the important decision of managing inventory
Explain the following function of marketing:
Gathering and analysing market information
Explain the following function of marketing:
Marketing planning
Explain the following function of marketing:
Customer support services
Mention any two facilitating functions of marketing.
Match the FUNCTIONS of Marketing in Column I with the appropriate ACTIVITIES in Column II.
| Column I | Column II | ||
| (1) | Marketing Planning | (i) | Providing basis for distinguishing the product of a firm with that of the competitor. |
| (2) | Product Designing and Development | (ii) | Specifying the action programmes to achieve different objectives. |
| (3) | Branding | (iii) | Making the product attractive to the target customers. |
One of the important decision areas under the marketing function of ______ is managing inventory.
As a function of marketing, Warehousing creates time utility.
