Analysis should include
- evaluating and sorting collected data
- using statistical analysis to identify meaningful patterns and trends that point to how well a good or service will sell
- presenting market research findings
- applying market research findings.
Process/Skill Questions:
- What data collection method is considered most valid in analyzing data?
- How do businesses benefit from market research?
- Why should market research data be well organized?
- How might market research data be used by a fashion retailer?
- What is a management information system (MIS)? What is its role in market research?