What is the systematic process of collecting and analyzing information related to a marketing issue?

Prepare for the HSC Business Studies Exam with flashcards and multiple choice questions, each with hints and explanations. Get exam ready!

The systematic process of collecting and analyzing information related to a marketing issue is known as market research. This process involves gathering data about consumer preferences, market trends, and competitive landscape to make informed business decisions. Market research can take many forms, including surveys, interviews, focus groups, and data analysis, and it serves as a foundational component for developing marketing strategies.

In contrast, while market analysis refers more specifically to evaluating market conditions and understanding the competitive environment, which is a part of the broader market research process, market surveys focus on gathering quantitative and qualitative data from specific groups of people. Market testing is a separate process that assesses the viability of a product or service through trials before a full-scale launch. Thus, the comprehensive nature of market research encompasses all these aspects, making it the correct choice for this question.

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