1.
Do you believe many market research reports are scrutinize? Why or why not?
Solution
Market research reports are analyzed to convert the raw data from the research into information.
This information is used in MIS. This helps the firm to know about the target customers or
Markets. Market reaching is gathering information about the competitors, competitiveness,
present demand and preferences, and prevailing situations. This information is further processed
and are effectively used to create build a business strategy.
Market research reports are examined by the team leader or their superior. Some companies hire
outside consultants to evaluate the report and update it as well.
Market reports are evaluated to form get the Market information, market segmentation, market
trends, and SWOT analysis.
Some small firms avoid scrutinizing the reports, as it incurs additional cost and resources. Thus,
it considers the gathered information valuable and frame strategies based on the report.