UNIT 2

MODULE 2: FUNDAMENTALS OF MARKETING (cont’d)

(c) Forces in the macro-environment:

(i) demographic factors;

(ii) economic factors;

(iii) natural factors;

(iv) political factors;

(v) cultural factors.

4. Marketing Research

(a) Role and importance of market research.

(b) Importance of developing a research plan.

(c) Describe the stages of Market Research:

(i) management problem identification;

(ii) research objectives;

(iii) sources of data - primary, secondary;

(iv) sampling - probability and non-probability;

(v) research techniques - focus groups, surveys, in-depth interviews;

observation;

(vi) analysis and presentation of results.

(d) Limitations of Market Research.

CXC A24/U2/12
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