BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Quote
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Sales Report
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Estimate
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Fact
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Detailed explanation-1: -The most common primary market research methods are interviews, surveys, focus groups and observations.
Detailed explanation-2: -Marketers are interested in three types of big data: customer, financial, and operational. Each type of data is typically obtained from different sources and stored in different locations. Customer data helps marketers understand their target audience.
Detailed explanation-3: -This leads to six requirements for a good decision: (1) an appropriate frame, (2) creative alternatives, (3) relevant and reliable information, (4) clear values and tradeoffs, (5) sound reasoning, and (6) commitment to action.
Detailed explanation-4: -Secondary data means data collected by someone else earlier. Surveys, observations, experiments, questionnaire, personal interview, etc. Government publications, websites, books, journal articles, internal records etc.