Consumer Behaviour Ch. 1-14 Review Questions and Answers Grade A+ 2023

How is marketing research defined? What are the key elements of this definition? - -Marketing research is the process of gathering and interpreting data for use in developing, implementing, and monitoring the firm's marketing plans. Its key elements are the product or service, its price, its placement or the channels in which it is distributed, its promotion, the tangible elements at the point of contact, and the processes and people involved in making the exchange or delivering the service. -Who does marketing research? What are the primary kinds of research done by each enterprise? - -Marketing research is performed by individuals and organizations, which includes companies that produce or sell products and services (marketing research gauges market needs), advertising agencies (to connect with target audiences and sell products), and marketing research companies (to make money as a business). -Why did marketing research begin to experience real growth after WWII? - -Marketing research grew after WWII because it was during this period that competition for customers greatly increased.