Before explaining the important decisions of single product or a new product manufacturing process, let’s take a look at some of basic concepts.
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There are few basic concepts that should be discussed before going into detail about the business buying process.
Marketing Research process way through which marketer evaluate the market, analyze the opportunities and threats, and try to show a best possible solution for addressing this situation. Actually, marketing research is conducted in order to get information about certain factors like customers, competitors or any other factor related to the external environment. All of such information collected is then utilized in the decision making process in the organization. Marketing research can be utilized to achieve the following outcomes.
Before going towards the detail of consumer behavior, let’s discuss some basic concepts consumer behavior.
Definition and Steps involved in the Marketing Process:- The marketing process is a process of analyzing the opportunities in the market, selection of the target markets, and development of the Marketing Mix and management of the marketing efforts. Below are the 4 marketing process steps that involved in targeting the right audience in the market.