Market Research and Product Development

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market research

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is the gathering and analysis of information on the size, location and makeup of a market

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marketing concept

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determining the wants and needs of customers and providing them more efficiently and effectively

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demographics

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are facts about the population

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target marketing

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helps companies focus on the people mostly likely to buy their goods or services

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market segmentation

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is the division of a market for a product into groups of customers who have the same needs and traits

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brainstorming

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people get together to come up with new ideas