General

Question 1

Complementary approaches to market research

Answer 1

• research projects
• > executed to adress specific problems
• > done when actionable information is required to address a specific marketing problem (e.g. a new product)
• information systems
• > continuous monitoring of consumer and market behavior
• > all customer actions (purchases, inquiries, promotional extensions etc.) are stored in databases called CRM systems
• > early warning systems