ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tyler walks into a Starbucks, and keeps track of how many caramel cinnamon lattes are being sold to gather data. What method is he using?
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Survey
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Observation
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Product Mix
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Product line
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Explanation:
Detailed explanation-1: -By implementing Quantitative Market Research, questions like “Who are currently buying my products/services?”, “Why are the others not buying my product?”, “How to reach out to my potential clientele?” are answered.
Detailed explanation-2: -Interviews (telephone or face-to-face) Surveys (online or mail) Questionnaires (online or mail) Focus groups. Visits to competitors’ locations.
There is 1 question to complete.