A game plan without using market research reports is of no use since these reports provide a basis to the strategy. These reports can be divided into two categories:
Zero cost market research reports
These include the reports from industry sales and these are general sales reports of the industry that have valuable information regarding sales. Another is the product features and pricing reports that are an analysis of product features and also the prices incorporated. Lastly, the marketing reports are self generated and include an analysis of the marketing activities carried out.
Research reports from other marketing research companies
These are paid reports since these reports are generated by officially registered market research companies.
Premeter 3 shall spend £ 70,000 in the first period on market research reports which is needed andessential to form a foundation for the study. We plan to buy market research reports for period 1 and 2 whereas, we will not purchase any reports in the period 3 and 4. But we will purchase market research reports to stay updated with the changing environment in the year 5.
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