In the context of marketing research, the iceberg principle states that:
A. 80 percent of the marketing research budget of a company is typically spent on solving 20 percent of the problems facing the company.
B. data becomes knowledge when someone, either a researcher or a decision maker, interprets the data and attaches meaning.
C. managers are aware of just a small portion of the true problem, and this small portion is generally the visible symptom of a bigger underlying problem.
D. a researcher must determine the types of data that will best answer each research question before redefining a problem into research questions.
E. the importance of marketing research is often underestimated in organizations, and what people see is only a small part of a much bigger support system.
Answer: C
You might also like to view...
Always includes an inside address
A) Letters B) Memos
What are the Four "W"s and why is it important to answer them as early as possible?
What will be an ideal response?
According to Francis Bacon, usury must be permitted for which of the following reasons?
a. It's only fair to allow those who have money to profit from lending it b. Men are so hard of heart they will not lend freely c. Borrowing is a privilege not a right d. The world of business need not be fair
Secured bonds:
A. Are subordinated to those of other unsecured liabilities. B. Are the same as sinking fund bonds. C. Have specific assets of the issuing company pledged as collateral. D. Are backed by the issuer's bank. E. Are called debentures.