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A business plan is a formal written document containing the goals of a business, ... Templates [3] and guides, such as ... market analysis; marketing plan; operations ...
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness.
The literature defines several areas in which market analysis is important. These include: sales forecasting, market research, and marketing strategy. Not all managers will need to conduct a market analysis. Nevertheless, it would be important for managers that use market analysis data to know how analysts derive their conclusions and what ...
Marketing research is often partitioned into two sets of categorical pairs, either by target market: Direct or Business-to-consumer (B2C) marketing research, and; Business-to-business (B2B) marketing research. Or, alternatively, by methodological approach: Qualitative marketing research, and; Quantitative marketing research.
The marketing research process is a six-step process involving the definition of the problem being studied upon, determining what approach to take, formulation of research design, field work entailed, data preparation and analysis, and the generation of reports, how to present these reports, and overall, how the task can be accomplished.