BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following steps of the market research process typically takes over half of the time in completing the research?
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problem definition
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situation analysis
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data collection
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problem solving
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alternative development
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Explanation:
Detailed explanation-1: -Defining the problem is often the most difficult step in the marketing research process. It is very important for the objectives of the research to be clearly defined, because the best research job on the wrong problem is a wasted effort, time and resources for the company.
Detailed explanation-2: -After defining the research problem and deciding the objectives, the research design must be developed. A research design is a master plan specifying the procedure for collecting and analysing the needed information.
Detailed explanation-3: -The final step in the market research process is to present your survey research findings and draw conclusions.
There is 1 question to complete.