MANAGEMENT

BUISENESS MANAGEMENT

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which step is the most important in market research?
A
Step 1
B
Step 2
C
Step 5
D
Step 6
Explanation: 

Detailed explanation-1: -The most important part of the marketing research process is defining the problem. In order to do any research and collect data, you have to know what you are trying to learn from the research.

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 first step in any marketing research study is to define the problem while taking into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making.

Detailed explanation-4: -The first step in the research process is to develop a research question. This can be a problem that needs to be solved, or some piece of information that is missing about a particular topic. Answering this question will be the focus of the research study.

Detailed explanation-5: -Therefore, the most important and first step in the marketing process is understanding customer needs and requirements.

There is 1 question to complete.