Answered: market research is concluded and the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Once market research is concluded and the results are obtained, how do you proceed? What are the next steps in the procurement process

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Step 1

Market research is the process of collecting and interpreting data about the target customers and competitors. It helps to connect with targeted customers by understanding them and also helps companies to identify opportunities for growth by providing information about the market. It also helps to identify the strengths and weaknesses of competitors and helps companies to create a competitive advantage.

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