MARKET RESEARCH

AND ITS RELEVANCE

TO BUSINESS
Elizabeth Balderas
Patricia Ramiréz
Guadalupe Romero
 What is market
research?
It is the process of collecting, analyzing, and
interpreting information about a market
 What are the objectives
of market research?
Market research has 3 different types of goals.
• Administrative
• Social
• Economic
 What are the phases of
market research?

Define the Research Obtaining

Problem Design Information
 What are the phases of
market research?

Processing Interpretation
and and
analysis of Presentation
data of Results
 Advantages

Identification of Obtaining valuable

Evaluation of the Improved reputation
business information
performance
 Disadvantages

Cost and time Risk of obtaining

Difficulty keeping The information
associated inaccurate
collected
The importance of market
research for businesses
Market research is essential for businesses
because it helps them understand their
customers, know the market, and make
smart decisions.