Explain in details the process of marketing research.
Answer
Most marketing research involves attaining information from marketplace indirectly or directly and hence the common ground is in realm of technique and method. Scientific marketing research process can hence be defined in 5 stages. (1) Problem or opportunity identification; (2) Exploratory research; (3) Hypothesis development; (4) Conclusive research and; (5) Result. Many researchers also break down this process into further components.