Describe a classification of marketing research and give examples.
Two Classifications of Marketing Research:
(1) Problem-Identification Research
-Research undertaken to help identify problems that are not necessarily apparent or that are likely to arise in the future. Can be designed to analyze market potential, market share, brand or company image, market characteristics, and sales. It can also be used in short-range forecasting, long-range forecasting, and uncovering business trends.
(2) Problem-Solving Research
-Research undertaken to help solve specific marketing problems. Addresses many topics, including market segmentation and product, pricing, promotion, and distribution.