135k views
5 votes
The _____ of marketing research is to address "what if" questions.

2 Answers

3 votes

Final answer:

The subject of this question is Business. Marketing research is a process used by businesses to gather data and information about their target market, customers, and competitors. Its purpose is to address "what if" questions and provide insights for decision-making.

Step-by-step explanation:

The subject of this question is Business. Marketing research is a process used by businesses to gather data and information about their target market, customers, and competitors. Its purpose is to address "what if" questions and provide insights for decision-making. For example, a business may conduct marketing research to determine the potential impact of launching a new product or changing their pricing strategy.

User MarcWan
by
7.7k points
5 votes

Final answer:

Marketing research aims to explore "what if" scenarios to assist in decision making by asking open-ended, debatable, non-biased questions. This involves collecting data through various methods such as surveys, experiments, and observational studies to gain insights for informed strategic choices.

Step-by-step explanation:

The purpose of marketing research is to address "what if" questions. This involves exploring scenarios and their potential outcomes to aid in decision making. A key objective is to assess the risks and benefits of strategic choices a business may consider.

When conducting marketing research, it is important to formulate open-ended and debatable questions that do not suggest a right or wrong answer and are not easily answered with a simple yes or no. This allows for a broader range of responses and can provide more in-depth insights. For example, rather than asking a question that leads to a biased or predetermined answer, researchers should focus on questions like 'What are the future results of the choice you make today?' or 'What could be the unintended consequences of this choice?' ensuring they remain objective and open to various perspectives.

In practice, this might involve conducting surveys, experiments, or observational studies to collect data. For instance, a marketing manager might use a questionnaire to identify customer demographics, whereas a library might track the types of users who are checking out books to better understand its patron base. Political parties often use polling to gauge public reaction and opinion trends. Each of these examples showcase how various research methods can be utilized to answer complex, consequential questions that inform strategic decisions in organizations.

User Michael Carman
by
8.6k points

No related questions found