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Marketing research is used to determine why sales of a product, such as cereal, might have dropped. Qualitative data, typically gathered through interviews, can help market researchers determine the popular opinion. Marketing research is the research that companies do to study customers and other companies. Marketing research might include using social media to see what in trending within a particular industry. Giving away free samples in exchange for filling out a survey is one way companies conduct marketing research.
Key Takeaway. Step 1 in the marketing research process is to define the problem. Businesses take a look at what they believe are symptoms and try to drill down to the potential causes so as to precisely define the problem.