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Classified in Economy

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Marketing research find or collects data to help solve marketing problems.


Primary data is observed or collected by a business and relate specifically to its needs or problems  (ex. Survey, focus group, phone interview)


Secondary data is collected by someone other than the user (ex. Statistics Canada, online article,  book)


Product

A product can be either a tangible good or an intangible service that fulfills a need or want of consumers.Canadian products sold outside of Canada must be usually modified to adapt the culture, language, or laws of the foreign market. 


Price

Determining the costs of the goods or services. Companies that uses a centralized Market entry strategy find that they must increase the price of their product when selling it and in foreign markets. Sometimes the price of their product increases to the point that there is no longer competitive the price increases such as shipping costs, Labour costs,  legal costs, tarrifs.


Promotion

Definition: Looking at the many ways to get across and showcase a relevant product or service to consumers and differentiate a particular product or service. 

Examples: Some ways of advertising include flyers, social media, marketing.


Place

Where you sell your product or service (location), and make the most money possible.

Examples: Levis is located in Vaughan Mills because a lot of people visit that mall, and the owners will make a good profit.


E-commerce is a business in any city in the world that is close to a Transportation Hub and can be an international business. Companies like Amazon can do business anywhere without leaving their local base.




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