• We need your support!

    We are currently struggling to cover the operational costs of Xtremepapers, as a result we might have to shut this website down. Please donate if we have helped you and help make a difference in other students' lives!
    Click here to Donate Now (View Announcement)

Hi everyone plzzz can anyone help me in cie o level business studies.....

Cookie Monster

Cookie Monster

Messages
383
Reaction score
912
Points
93
radrox said:
marketing,market research and trade unions
Click to expand...
That's easy.

1) Marketing research:-
- It's carried out by the business to know about consumers' tastes because they are constantly changing.
- It's usually carried out in consumer oriented markets. Consumer oriented markets are the ones in which firms modify their products according to consumers' wishes.
- It's very expensive to carry out so only large scale businesses would be able to finance it.
- It's important to do market research if business wants to earn maximum revenue and for its survival as well.
- Market research holds immense significance if there are many competitors in a market. (If businesses don't carry out market research, they can be forced to shut down by their competitors who carry out market research and constantly modify their products according to consumers' wants.)

Get it? :]
 
You must log in or register to reply here.
Top