List Four Steps That Should Be Accomplished When Planning a Market

question 44

Essay

List four steps that should be accomplished when planning a market research project.

---

Definitions:

Usage Rate

The quantity consumed or patronage (store visits) during a specific period. Frequency marketing focuses on usage rate.

Behavioral Segmentation

The process of dividing a market into groups based on consumer behaviors, such as purchasing habits or loyalty.

Product Features

The attributes or characteristics that make up a product, distinguishing it from others in the market.

User Status

The classification of users based on their engagement level, experience, or purchase history with a service or product.