- What is marketing research? How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy?
What is marketing research?
Market research is the gathering and studying of data in respect to marketing situations. “We define marketing research as the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company” (Kotler & Keller, 2009, p. 90). Many large companies have marketing research divisions and budget a portion of sales for the expense.
How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity.
The Internet has expanded the possibilities of marketing research. Companies can place questionnaires on their web sites, place banners for customers to answer questionnaires, email studies, and the like. “Online research was estimated to make up 33% of all survey-based research