Question

Select the correct answer.

In terms of market research, which statement describes an advantage for businesses?

O Market research agencies always collect accurate market information, regardless of their client's guidance.

O Secondary sources are inexpensive and can meet any business's market research needs.

O Primary research methods, such as interviews, are highly reliable because respondents always give their honest opinions.

A business can explore new market opportunities with the help of accurate market research data.

Submit

Answer 1

Answer: A business can explore new market opportunities with the help of accurate market research data.

Step-by-step explanation:

When market research data is accurate, a business is better able to know what consumers want and can therefore explore new opportunities to satisfy these needs and make healthy returns as a result.

If market research data is poor however, companies run the risk of either investing in a loss making venture or not investing in a potentially profitable venture because they did not know how profitable it would be.