MANAGEMENT

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BUISENESS MANAGEMENT

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A company marketing team identifies a small group of consumers who fit the profile of the typical customer. The team observes, gathers survey information from, or hangs out with these typical customers, to gain insight into how the customers make product choices in order to design a future, more rigorous study. The data collection method used in this example is
A
observational research.
B
focus group research.
C
case study research.
D
exploratory research.
Explanation: 

Detailed explanation-1: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.

Detailed explanation-2: -Qualitative research isn’t so much about numbers as it is about people – and their opinions about your business. Typically conducted by asking questions either one-on-one or to groups of people, qualitative research can help you define problems and learn about customers’ opinions, values and beliefs.

Detailed explanation-3: -Market survey research involves analyzing a given market in order to gain insight into the buying potential and attributes of the target audience for a product or service.

Detailed explanation-4: -This type of information is provided by marketing research, which is defined as the systematic gathering and analysis of marketing-related data to produce information that can be used in decision making.

There is 1 question to complete.
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