ABSTRACT
In Chapter 3 we discussed how marketers use segmentation, targeting and positioning (STP) to position their product. Underlying the STP process are hundreds of hours dedicated to data collection and analysis. This information is then used to gain a better insight into the customer’s mind and the world in which they live. Questions about the industry structure, the competition, economic trends, new advances in research and technology, shifts in consumer behaviour all fall under the rubric of market research. This chapter focuses on two main areas, rst we look at the decisionmaking process a consumer goes through, we then investigate the different methods marketers use to collect market research.
