3. Collecting and interpreting information
             5. Information Analysis and Interpretation
             6. Ethical Responsibilities of Market Research
             For businesses to discover and predict what consumers want they need to use market research. Market research is analyzing consumer trends and producing information about the change. To do this a company has to figure out which target market they want to focus their product in. focus their research in that market then devise a marketing campaign that will attract their target consumer. Also in this, they must follow some ethical guidelines. In this report, I will discuss and give examples of what is market research, different target markets, and guidelines that companies must follow
             Market research is studying, collecting and evaluating of the information collected to assist businesses with their product that they are trying to sell. This will give the company insight into how best to market their product or how to change its image to rejuvenate sales.
             Market research is best used in these cases
             • To assess the success of their own product and marketing strategies.
             • To find out when the product's popularity is starting to decline.
             • To examine how the competitor's products are doing in the market.
             • To discover opportunities for new products.
             • To keep in check with fashion trends and want the consumer wants.
             While there are numerous methods for collecting information about the market, all of them generally fall into two separate categories. These are:
             Qualitative is normally a more personal type of research done with an individual or a focus group. For example, a company wanting to market to the teenage market population would pay a group of kids, usually "trendsetters". And discuss with them what is cool, and how to make their product more "hip". This type of research is extremely valuable because they get a large insight into what their target market want and how to de...