GK
MARKETING MANAGEMENT
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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: -The first step in the marketing research process is defining the problem or the question your research is trying to answer, followed by developing a research plan to answer that question, collecting and analyzing the data, and then producing a report.
Detailed explanation-3: -The primary purpose of conducting market research is to understand or examine the market associated with a particular product or service to decide how the audience will react to a product or service.
There is 1 question to complete.