Carmex: Leveraging Facebook for Marketing Research While Carmex has been marketing lip balm since 1937, only recently has Carmex begun to focus on competition and growth. Carmex has used social media tools to support many of its growth initiatives including product line extension, international growth, new product development, and product line expansion Facebook provides Carmex with the unique opportunity to research potential lip balm varieties in the United States by engaging with its target audience online Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information and recommending actions Marketing researchers collect information to help marketing managers reduce risk and improve their marketing decisions. There are five steps in the marketing research approach: (1) defining the problem. (2) developing the research plan. (3) collecting relevant information, (4) developing findings, (5) and taking marketing actions Click the button to watch the video. Then, answer the questions that follow. 76 Years of car Engagement Carmex's first effort in marketing research had the research objective of liguring out wito was as a company and what the Cormex name means in the fir stage of the marketing research approch the research objective is set O developing findings O defining the problem O developing the research plan O collecting relevant Information taking marketing actions