Question

What can provide key data so you can develop a marketing plan that works?

Options:

A business concept

A management plan

Market research

Product development

Answer 1

Answer:

(C) Market Research

Explanation:

Market research is the method of getting information about your market. Preferably, this is precise information about your target market and the key determinants that control their buying decisions. Market research can be irregular and limited in scope and, although it may not be “statistically significant” research, it can still be helpful.

Answer 2

Answer:

The correct answer would be C, Market Research.

Explanation:

Before making a Marketing Plan, the concerned personnel must have the facts and figures and data about the market. This data which must consist of the consumers' preferences, needs and demands, must be gathered before developing the marketing plan. This data which shows the consumers preferences is basically gathered through the market research. This research will be used to make a better marketing plan for the company to get benefit out of it in the future.