The Market Plan (P3)

Which stage of marketing research is considered to be the most difficult for an entrepreneur due to lack of knowledge or experience in marketing?

• Analyzing and interpreting the results

• Gathering data from primary sources

• Gathering data from secondary sources

• Defining the purpose or objectives

Marketing research begins with: 

• setting the advertising budget.

• definition of objectives or purpose.

• identifying direct marketing strategy.

• collecting a list of primary and secondary sources of information.

Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be. 

• True

• False

The Internet is a good source for primary information but does not provide many secondary sources. 

• True

• False

Give some examples of secondary sources for market research.