Western Governors University (WGU) MKTG2150 D174 Marketing Management Practice Exam

Question: 1 / 460

What is the first step in the Market Research Process?

Analyze the data

Conduct the research

Define the problem

The first step in the Market Research Process is to clearly define the problem. This foundational phase is essential because it sets the direction for the entire research process. Understanding what issue or question needs to be addressed helps in crafting a focused research plan. By defining the problem, marketers can determine what information is necessary to gather, which methods to use for collecting that information, and how to analyze it effectively.

In essence, a well-defined problem statement allows researchers to align their efforts with the business's objectives and ensures that the findings will be relevant and actionable. Without this critical initial step, subsequent actions such as conducting research, analyzing data, and reporting findings may lack clarity and purpose, potentially leading to misguided conclusions and decisions.

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