Business > CASE STUDY > 1.2_he_Importance_of_Market_Research_2.docx The Importance of Market Research STUDENT (All)

1.2_he_Importance_of_Market_Research_2.docx The Importance of Market Research STUDENT

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1.2_he_Importance_of_Market_Research_2.docx The Importance of Market Research STUDENT NAME MKT/441 44772 University of Phoenix The Importance of Market Research The following paper will illus... trate the market research definition while identifying the various types of research used. Additionally, the paper reviews the importance of marketing research and the role it plays within the business environment. According to McQuarrie, E. F. (2015), marketing research is defined as œpreparation, compilation, and examination of information applicable to marketing evaluation. In other words, marketing research involves taking data and making it relevant to a successful outcome. Marketing research dates back as early as the 1920s and was conceptualized in the market togather requirements regarding what people needed when considering products and services. Companies started hiring people to perform market research to better understand what their consumers needs and wants were. Fast forward a century and just about all companies use market research to stay relevant and so that they can produce what consumers are looking for. Amazon Every year, Fortune Magazine publishes the top 500 companies by revenue and, therefore, those corporations are dubbed œthe Fortune 500. Amazon ranks eighteenth in the 2016 Fortune 500 Companies. Amazon was founded by Jeff Bezos, in his garage, on July 5th, 1994 in Seattle, Washington (Amazon.com, 2018). Amazon was originally named ˜Cadabra, but when it was mistaken for ˜Cadaver, th. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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