Which of the Following Would Most Likely Use Informal Research

question 74

Multiple Choice

Which of the following would most likely use informal research methods to obtain marketing insights?

• A) multinational firms
• B) pharmaceutical firms
• C) brick-and-mortar companies
• D) not-for-profit organizations
• E) family-owned businesses

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Definitions:

Market Segments

Subsets of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as prices or function.

Product Prices

The amount of money required to purchase a good or service, often influenced by factors such as production costs, competition, and demand.

Narrow Range

A situation where variations or differences within data points, options, or outcomes are minimal or significantly limited.

Blue Ocean Strategy

A business strategy that focuses on creating new market spaces (blue oceans) where there is no competition, as opposed to competing in existing industries (red oceans).