BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bias
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Expensive
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Correct
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Impartial
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Detailed explanation-1: -Some of the overarching goals that market research can help organizations accomplish, include: making important business decisions, securing investments and funding, determining new business opportunities, and even avoiding business failures.
Detailed explanation-2: -Ask Specific and Objective Questions. The goals of your market research influence your objectivity. Rather than proving something or showing that your approach is correct, your surveys and research activities should be aimed at finding out information and gathering data in a neutral but specific fashion.
Detailed explanation-3: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.
Detailed explanation-4: -Most marketing data is between 10% and 20% accurate. Data that is less than 10% accurate generally doesn’t perform. Data that is better than 20% accurate has decreasing audiences to sell.