Lecture Ready 3
Chapter 1
Page 7 Outline-exercise 6
There are two kinds of market research:
geographic and demographic. Geographic
research can be focused on a country, a
region (like the Midwest) or urban area
such as a city or suburb. Demographic
research takes into account age, sex,
income and education, for example the
highest level achieved.
Page 7 Outline-exercise 7
Marketing strategies
Product
Determine target market
Develop product to fit
Pricing
Decide price
Too expensive – consumer won’t
buy
Too cheap – not enough profit
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