Marketing researchers should assess the costs and benefits of conducting research as they define objectives and research needs. What are key benefits and costs?
What will be an ideal response?
Students will probably have a good picture of the costs, which are highlighted throughout the chapter. Benefits may be a little more difficult and should include reduction of uncertainty in decision making; improving the quality of decision making; and determining the best product, price, place, and promotion options available to the marketer. A final benefit is the ability to anticipate and respond quickly to competitive moves.
You might also like to view...
Of the following, which is one of the functions of management described by Fayol?
A. Accommodating B. Coordinating C. Arbitrating D. Collaborating E. Tasking
Jennifer was recently passed up for a promotion in favor of her coworker Ryan. However, Jennifer finds out from another employee that Ryan has been plagiarizing his presentations at work. Jennifer knows this isn't fair, but she doesn't want Ryan to be fired either. What is Jennifer experiencing?
a. conflict of interests b. ethical dilemma c. teamwork dilemma d. coworker dilemma
Which of the following is NOT one of the four primary scales of measurement?
A) nominal scales B) ordinal scales C) interval scales D) random scales E) C and D
All of the following actions can help a business manage its cash flows except
a. convince its creditors to allow payment over a period of time. b. pay for all expenditures immediately. c. be efficient in making collections from its customers. d. arrange for a line of credit at the bank, should the funds be needed.