All businesses face some risks whether they are startups or have been in business for a long time. Market research is important in identifying alternative courses of action for management decisions. By reducing the uncertainty surrounding choices, organizations can keep their risks low while achieving success. This course explores the benefits and limitations of market research as well as the detailed process of carrying out market research.
Marketing research is defined as a process that reports information that can be used to solve a marketing problem, such as determining the price or identifying the most effective advertising media. The focus then is on a process that results in information that will be used to make decisions. You will learn about different types of research, their advantages and the scenarios they are best suited for. We will discuss the problem definition, research objectives, and research plan development.
Furthermore, the topics explore competitor analysis, which serves to identify rivals and understand their strengths and shortcomings compared to yours. It assists you in determining how to limit competition and fine-tune your practices. We will then discuss report formats in-depth; these often differ depending on the nature of the project. Finally, we will examine modern information technologies used in market research. Sign up today!
