Find that the information gathered would not apply

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Reference no: EM133616911

Question: The statement "When it comes to Market Research, any information is good information." is not reasonable.

Market research aims to gather information about a particular market in order to increase profitability by understanding their business's customers, their competition, and the 4Ps: products, place, promotion and price (Iacobucci, 2017). Not all research data is relevant to the information needed, as inaccurate, outdated or biased information could lead to defective analysis and therefore detrimental decision making. For example, if a marketing team wants to enter a new market, it would be important to gather data from that market and it's competitors and 4Ps. If the marketers gathered data from a different market to make decisions on the new market, they would find that the information gathered would not apply.

Reference no: EM133616911

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