What Is the First Step in the Marketing Research Process

question 31

Multiple Choice

What is the first step in the marketing research process?

• A) developing a marketing information system
• B) defining the problem and research objectives
• C) developing a research plan for collecting information
• D) implementing the research plan
• E) interpreting data and providing a report

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Definitions:

Confidence Interval

A statistical range, derived from sample data, that is likely to contain the true population parameter with a specified level of confidence.

Sample Size

The number of observations or data points collected in a sample.

Variable

An element, feature, or factor that is liable to vary or change.

Confidence Interval

A gamut of values, arising from sample statistic evaluation, with a high likelihood of encompassing the value of a mysterious population parameter.