ENTREPRENEURSHIP

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ENTREPRENEURIAL OPPORTUNITIES

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following is a benefit of having managers and researchers “on the same page” about the marketing research problem:
A
It keeps the business from wasting resources.
B
It ensures favorable results from the research study.
C
It improves the business’s market share.
D
It eliminates the need to establish research objectives.
Explanation: 

Detailed explanation-1: -Problem-solving research helps identify ways to solve those problems through marketing mix and segmentation. Using research for problem identification and problem solving is essential when you want to make your company the best in its market. Classifying your problem should always come before attempting to solve them.

Detailed explanation-2: -Maintain a Customer-Centric Approach. Connect With Your Audience More Effectively. Identify Opportunities for Growth. Reduce Risks by Testing Concepts. Make More Informed Decisions. Compete More Effectively. Stay on Top of Trends. 02-Jun-2022

Detailed explanation-3: -Managing risks. Increasing sales. Improving brand recognition. Measuring brand reputation. Can be expensive. Requires significant time investment. May only target a small population. Need personnel to conduct research. More items •24-Jun-2022

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