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21 votes
Involves the gathering of data to determine such

information as who will buy the product or service, what price
should be charged, what is the most appropriate distribution
channel, and what is the most effective promotion strategy to
inform and reach potential customers .​

1 Answer

7 votes

Answer: Marketing Research

Step-by-step explanation:

Marketing research aims to gather information required to evaluate the potential in the market for a new product. It can either be carried out by the company that is going to manufacture or sell the product or by an external consultant. The first step in market research is to define the purpose of the research; then comes the gathering of data from secondary sources, and finally gathering data from primary sources.

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