Marketing1.doc - Running head MARKETING 1 Marketing Student Name Institution Affiliation MARKETING 2 Marketing An important aspect in any given business

Marketing1.doc - Running head MARKETING 1 Marketing Student...

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Running head: MARKETING 1 Marketing Student Name Institution Affiliation
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MARKETING 2 Marketing An important aspect in any given business environment is the need for marketing research. The marketing research process assists companies to identify various opportunities and analyze their strategies based on various data. Although the process is an important aspect of making informed decisions, most companies cut on marketing budgets due to the high cost of investment and time. To make marketing research affordable and effective, companies need to focus on only five steps of the process. The essay discusses the five steps of the marketing research process and extensively elaborates on steps taken to make an effective research plan. The five steps of the marketing research process are defining the issue, creating a research plan, collecting data and information, analyzing data to make conclusions, and taking action. Prior to starting the marketing research, it is important to identify and define a specific
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