Marketing research is
A) the study of consumer needs and wants, and the ways in which sellers can best meet them.
B) the process of collecting, storing, and retrieving data in electronic files.
C) the process of fixing, adapting, and communicating the nature of the product itself.
D) the process of dividing a market into categories of customer types.
E) a marketing strategy that emphasizes long-lasting relationships with customers.

Question

Quizplus · Accepted Answer

Marketing research is the systematic process of gathering, analyzing, and interpreting data about a market, a product or service, and the past, present, and potential customers. Its aim is to identify the needs and wants of customers and determine the most effective marketing strategies to fulfill them. Therefore, option A is the most accurate definition of marketing research. Option B refers to data management, option C to product development, option D to market segmentation, and option E to relationship marketing, which are related but not equivalent to marketing research.

Marketing Research Is