Explain the steps involved in the marketing research process
What will be an ideal response?
The marketing research process involves four steps: defining the problem and research objectives, developing the plan, implementing the plan, and interpreting and reporting the findings. Managers must know what is wrong in order to define the problem. Research objectives may be reached through exploratory, descriptive, or causal research. Once researchers have defined the research problem and objectives, they must determine the exact information needed and develop a plan for gathering it efficiently. The research plan should be presented in a written proposal and must include the cost for the research. Once this is done, secondary and primary data is collected and compiled. Then, the data is interpreted to draw conclusions, and finally reported to management.
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The ability to communicate effectively is known as ______.
A. interpersonal communication B. intrapersonal communication C. interpersonal competence D. having a conversation
The following amounts are from Silverton Co's 2014 income statement: Sales ................................................. $340,000 Sales returns and allowances .......................... 5,000 Cost of goods sold .................................... 132,000 Utilities expense ..................................... 66,000 Interest revenue ...................................... 1,000 Income tax on
operations .............................. 28,000 Extraordinary loss due to earthquake, net of tax ...... 5,000 Interest expense ...................................... 4,000 Salaries expense ...................................... 46,000 Loss on sale of investments ........................... 3,000 What amount would Silverton show for income from continuing operations on a multiple-step format income statement? a. $52,000 b. $68,000 c. $57,000 d. $96,000
The first step in creating the master budget is the creation of the:
A) production budget. B) direct labor budget. C) cash budget. D) sales budget. E) budgeted income statement.
Ashley and Daniel both work at the same company doing the same thing. Ashley works the morning shift while Daniel works the afternoon and evening shifts. Ashley and Daniel are working which type of nontraditional work schedule?
a. Flextime b. Compressed workweek c. Job sharing d. Telecommuting