Question

In: Economics

6) The marketing research system provide alerts when problems are emerging. A) true B) false

6) The marketing research system provide alerts when problems are emerging.
A) true B) false

Expert Solution

The given statement is absolutely true.

For explanation, let us first know about marketing research system.

What is Marketing research system?

-Meaning

Marketing research is a systematic gathering, recording and analysing of data.about problems connected with the marketing of goods and services.

-It is concerned with all the factors which have a direct impact on marketing of goods and services.

-It is the study of total marketing process.

Definion (Philip kotler)

"Marketing research is a systematic design,collection,analysis, and reporting of data and finding relevant to specific marketing situation facing the company.

==>How marketing system provides alerts when problems are emerging??

It provide alerts because of its several advantageous functions such as-

1.Better communication -Market research system helps to evaluate the nature as well as the preferences of customers,by knowing the tastes of the consumers companies would take excellent steps to attract good number of consumers to earn profit and makes aware about the alertness.

2.Minimise risks -By analysing the reports, one can identify the faults and can easily strategies to prevent a number of risks.

3.Establishing trends -Market research helps the businesses to analysis the latest trends regarding the products by which they make strategies before the upcoming trends,helps them to be up-to the level according to the consumers preferences.

4.Identifies possible problems-it helps the business to understand the problems and shortcomings and with its help it becomes easier for them to rectify all issues.

5.System Efforts

6.Establishing Market positioning

hence, the given statement is true.

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Rahul Sunny answered 2 years ago

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