MANAGEMENT

BUISENESS MANAGEMENT

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A company wants to determine what price consumers will pay for a new sandwich. At one store, the company charges $3.59. At another comparable store, the company charges $4.59. Sales are tracked at both locations for a one-month period. The data collected in this example is ____ data.
A
ethnographic
B
quantitative
C
qualitative
D
exploratory
Explanation: 

Detailed explanation-1: -In probability sampling, the units are selected randomly while in quota sampling a non-random method is used-it is usually left up to the interviewer to decide who is sampled.

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: -There are three primary types of marketing information marketers use to gain insights that will contribute to wise marketing choices: internal data, competitive intelligence, and marketing research.

Detailed explanation-4: -Experimental Research Using an experiment, the research attempts to establish a cause-and-effect relationship in a situation or phenomenon. It is a causal research design type where the researcher tries to observe the impact of a variable on a dependent one.

There is 1 question to complete.