Question

What is the significance of market research planning and why you think it is critical for...

What is the significance of market research planning and why you think it is critical for marketing professionals to focus in this way. Provide relevant context or examples to support your comments.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

market research planning will tells the professionals about how the market is present and what it is expecting from the manufactures will be known. It is critical for marketing professionals since the new products they are going to launch and want to know about competitors and all can be known only by market research.

Examples are if a company want to launch a new energy drink will need to research about what price market is willing to pay for it and how many competitors are there sending similar product and how many units they need to produce etc will be known based on market research planning

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Marketing Research and Information: What is meant by return on quality? Why do you think that...
Marketing Research and Information: What is meant by return on quality? Why do you think that the concept evolved? Give an example.
3. Topic 1 Market research is one of the most critical steps to successful marketing. This...
3. Topic 1 Market research is one of the most critical steps to successful marketing. This Discussion will focus on different types of marketing research to make more sound decisions. Topic 1 Suppose McDonald’s® was considering bringing a new kind of hamburger to its stores. What kind of research would it need to do in order to have some confidence that the new product would sell well, not just in the United States, but in its locations all over the...
Discuss why a needs assessment is so critical to planning a health promotion program. Provide and...
Discuss why a needs assessment is so critical to planning a health promotion program. Provide and support at least three reasons.
Do you think Moralistic Therapeutic Deism is an accurate reflection of society today? What are relevant...
Do you think Moralistic Therapeutic Deism is an accurate reflection of society today? What are relevant examples you can provide that support your conclusion? In your discussion, indicate to which of the points of Moralistic Therapeutic Deism you are responding throughout your post.
Why is it important to include sampling design in research proposals and research plans? Provide examples...
Why is it important to include sampling design in research proposals and research plans? Provide examples to support your main points.
What is market efficiency? Do you think the market is efficient? Why or why not? What...
What is market efficiency? Do you think the market is efficient? Why or why not? What investment strategy would you utilize if you believe that the market is (not) efficient?
How do economists define a "bubble"? Provide an example of an asset market that you think...
How do economists define a "bubble"? Provide an example of an asset market that you think could be the next bubble and explain why. (Do not use the examples cited in your textbook).
You are opening your own wedding planning business and are conducting some market research. According to...
You are opening your own wedding planning business and are conducting some market research. According to The Knot Real Weddings Study, the average cost of a wedding in the U.S. is $35,000. You are skeptical about whether these numbers apply to the Piedmont Triad area—your target market—and so you decide to conduct your own survey. After randomly sampling 40 recently married couples, you find an average cost of $32,000 with a standard deviation of $10,000. When you conduct your survey,...
What are the factors affect the choice of distribution channels in international marketing? Discuss, in detail,...
What are the factors affect the choice of distribution channels in international marketing? Discuss, in detail, the logistics in international marketing? In brief, why do you think that channel of distribution is the most critical and challenging task facing the international marketer? Justify your answers through related examples. 1. Why do you think that pricing is considered as one of the most complicated areas encountered by international marketers? Compare between skimming and penetration pricing strategies in international marketing. List the...
If a group of sellers could form a cartel, what market structure would that be? Explain....
If a group of sellers could form a cartel, what market structure would that be? Explain. Based on the actions of the cartel members, what quantity and price do you think they would try to set? Provide specific examples to support your examples.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT