ENTREPRENEURSHIP

ENTREPRENEURIAL OPPORTUNITIES

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Collecting, storing, analyzing, & retrieving info to improve the effectiveness/efficiency.
A
marketing information system
B
random sampling
C
focus group
D
external information
Explanation: 

Detailed explanation-1: -A marketing information system is an organized method of collecting, storing, analyzing, and retrieving information to improve the effectiveness and efficiency of marketing decisions. The process of summarizing, combining, or comparing information so that decisions can be made is called input.

Detailed explanation-2: -"Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem in the field of marketing."

Detailed explanation-3: -A marketing information system helps organizations collect, store, and analyze data about customers. This data can then be used to aid in decision-making about a large range of marketing activities (e.g., product positioning, pricing, customer segmentation).

There is 1 question to complete.