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X264 Target Market Selection

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Marketing
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Running head: TARGET MARKET SELECTION 1
Target Market Selection
Institution Affiliation
Date

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TARGET MARKET SELECTION 2
Introduction
Market research is the procedure of assembling information on aimed audience. The
foremost duty of market research is to offer a commercial enterprise a comprehensive assessment
of the customers so as to facilitate the fulfillment of their desires (Ramaswamy & Namakumari,
2013). The procedure of market research is essential so as to gain the ability to contest with
rivals in the similar industry and assists in investigating aspects such as market scope, rivalry, as
well as market requirements. The market research utilizes investigative and numerical
procedures and approaches to assemble and understand information in a systematic manner. This
procedure also entails outlook and communal investigation and is essential in the present nature
of commercial activities which gain complications with time.
Marketing Research Methods
Exploratory Research
This form of research is carried out by the seller in cases where they lack ample
information or any information on the research issue (Shankar & Carpenter, 2012). It also entails
assembling all the information from the beginning without relying on previous information
recorded or stored in other foundations of information. In this form of research, a person is able
to assemble information by utilizing the qualitative and quantitative research procedures. It is
hence the greatest form of research as well as the foremost appreciated form of research. This
technique solely responds to precise issues but not to unrelated matters.
This form of research entails several forms of undertakings like the emphasis groups,
opinion polls, observations, trials, as well as interviews. These forms of undertakings are
intended to assemble major information from the environment being investigated. Therefore, the

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Running head: TARGET MARKET SELECTION Target Market Selection Institution Affiliation Date 1 TARGET MARKET SELECTION 2 Introduction Market research is the procedure of assembling information on aimed audience. The foremost duty of market research is to offer a commercial enterprise a comprehensive assessment of the customers so as to facilitate the fulfillment of their desires (Ramaswamy & Namakumari, 2013). The procedure of market research is essential so as to gain the ability to contest with rivals in the similar industry and assists in investigating aspects such as market scope, rivalry, as well as market requirements. The market research utilizes investigative and numerical procedures and approaches to assemble and understand information in a systematic manner. This procedure also entails outlook and communal investigation and is essential in the present nature of commercial activities which gain complications with time. Marketing Research Methods Exploratory Research This form of research is carried out by the seller in cases where they lack ample information or any information on the research issue (Shankar & Carpenter, 2012). It also entails assembling all the information from the beginning without relying on previous information recorded or stored in other foundations of information. In this form of research, a person is able to assemble information by utilizing the qualitative and quantitative research procedures. It is hence the greatest form of research as w ...
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