Which procedure aims to identify solutions to specific marketing problems by gathering and analyzing information?

The correct answer, market research, is a systematic process designed to gather, analyze, and interpret information about a specific market, including information about the target audience, their preferences, behaviors, and various factors affecting the market environment. By identifying solutions to specific marketing problems, market research plays a critical role in understanding customer needs and making informed decisions based on empirical data.

Market research involves various methodologies, such as surveys, focus groups, interviews, and analyzing existing data, which collectively help businesses assess their marketing strategies and optimize their products or services to meet customer demands. For instance, if a business faces declining sales, market research can pinpoint the underlying issues, such as changing consumer preferences or market trends, ultimately guiding the organization toward effective solutions.

While data mining focuses on discovering patterns in large datasets, and competitor analysis involves evaluating the strengths and weaknesses of competitors, these approaches do not directly aim to solve specific marketing problems through structured data collection or analysis. Product testing relates to assessing the performance and appeal of a product before launch but does not encompass the broader scope of gathering and analyzing information pertaining to the entire market.