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When asking a marketing research firm to find out whether an investment project is feasible, the investor will typically say something like this: “We would like to invest in a shopping mall (a sports arena, an amusement facility, etc.), or a store (restaurant, gym, etc.). What kind of property do you think we should build or purchase to ensure payback and maximize the returns?” To tackle a project of this kind, we typically go through the following stages: Project profileDetailed account of the customer’s project concept Pinpointing the field of researchIdentifying the market or markets to be researched for the project; determining the project’s key factors of success The marketing research processAn exhaustive research of the target market or markets to find out how their anticipated performance may affect the project’s chances of success Data processingCollected findings are analyzed, and an opinion is issued as to the project’s feasibility ReportA set of recommendations on how to proceed with the project |
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