What does market research involve?
A) creating new opportunities from secondary data sources
B) gathering, interpreting, and applying information to uncover opportunities and challenges
C) analyzing, interpreting, and disseminating information to market leaders
D) collecting, analyzing, and interpreting information to uncover market challenges

Question

Quizplus · Accepted Answer

Market research involves gathering information about a particular market, analyzing it, and applying the insights gained to make informed business decisions. This includes uncovering opportunities and challenges, identifying target consumers, analyzing competitors, and assessing market trends. Market research uses various techniques and methods, including surveys, focus groups, and data analysis, to gather information that can be used to inform decision-making. Creating new opportunities from secondary data sources, analyzing and disseminating information to market leaders, and collecting information to uncover market challenges are all components of market research, but they do not encompass the full extent of what market research involves.

What Does Market Research Involve