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Define your central research area/questions. What questions should you be asking? How and where should you spend your efforts?Identify resources that will likely help you answer your questions.Download and review the Market Research Template [DOCX]. You will use it to complete this assignment.[Optional] Download and review the Market Research Ideas and Concept Sheet [DOCX]. Use it as a way to focus your thoughts as you begin your reseaIt is not to be turned in.Instructions:Conduct your primary market research and document using the Market Research Template. The completed document should do the following:Define the research problem or challenge. (It should state the elements, questions, or problems that your research is designed to resolve)Summarize your overall research approach, focus, and methodology (How will you obtain the information/data).Present data (and its sources) that supports answers to your main research questions and stated challenge in an effective manner. It should minimally include data on: The 4 P’s of Marketing.Product (in this case, service).Price.Placement.Promotion.Competitors.Number, services, location, market share, etc.Customers.Demographics, location, income, education, etc.Synthesize your research: Describe and prioritize two or three research conclusions that will likely guide your marketing plans. Make sure to highlight and summarize pertinent information from your sources that support your conclusions.Resources: Cite 6–8 sources used in your research. Choose sources that are credible and relevant. For help with research, writing, and citation, access the library or review library guides.The specific course learning outcome associated with this assignment is:Conduct market research to inform marketing strategy and planning.By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.