The First Step in the Marketing Research Process Is To

question 115

Multiple Choice

The first step in the marketing research process is to:

• A)collect relevant data from primary and secondary sources.
• B)define the problem and determine the present situation.
• C)decide upon the best ethical solution.
• D)analyze the research data.

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Definitions:

Final Output

The total value of all goods and services produced and sold for final use in the economy, avoiding duplication by excluding intermediate goods.

Durable Goods

Items with a long life span, such as appliances and automobiles, that are used over time rather than consumed quickly.

Intermediate Good

A product utilized in the manufacture of a final good or finished product, not sold directly to end consumers.

Local Nursery

A place or business that specializes in growing and selling plants and trees for gardening and landscaping within a local area.