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Market Research The Marketing Process Situation Analysis Marketing Strategy Marketing Mix Decisions Implementation Control Situation Analysis There are several frameworks that can be used to add structure to the situation analysis: 5 C Analysis PEST Analysis SWOT Analysis 5 C Analysis PEST Analysis SWOT Analysis How to do the situation analysis? We need data collection and information collection througn market research. Market Research Research means studying something by gathering information. Market research means studying places or ways in which a company can sell its products or services Market research also means studying what customers and prospects need or want from a company and its products. Four-step Market Research Market Research How to conduct market research? That is market researchers ask customers a lot of questions. Answers to these questions are studied to try to improve the company’s products and services. There are different ways to get answers to their questions. Market Research Questionnaire Survey Interview Market Research Questionnaire: Questionnaire is a document with questions written or printed on it. Usually a questionnaire has a number of questions. People who fill out or answer questionnaires are called respondents. A respondent is a person who answers. Market Research Respondents usually write answers to the questions right on the questionnaire forms. Many times respondents can answer questions by marking an X or √ in spaces on the questionnaires. It is easy for market researchers to compare the results and get the conclusions. Market Research Surveys and interviews are done by talking to respondents in conducting a survey or an interview, the market researcher leads the respondent in answering questions or in giving information that is needed. In surveys and interviews, respondents are also called subjects. Market Research In conducting a survey, market researchers ask just a few questions to many su
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