Final answer:
The statement is false; the correct term for the blending of decisions related to the product, price, place, and promotion is the marketing mix, not marketing research.
Step-by-step explanation:
The statement that the blending of all decisions that relate to the four elements of marketing are called marketing research is false. The blending of decisions relating to product, price, place, and promotion—commonly known as the four P's of marketing—is actually referred to as the marketing mix.
In contrast, marketing research refers to the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services.
The statement is false. The blending of all decisions that relate to the four elements of marketing is called marketing mix or the 4Ps of marketing, which includes product, price, place, and promotion.
Marketing research, on the other hand, refers to the systematic gathering, recording, and analysis of data about a specific market, target customers, and competitors to make informed marketing decisions.