Interviews with Industry Experts-Individuals Knowledgeable About the Firm and the Industry

question 45

Multiple Choice

Interviews with industry experts-individuals knowledgeable about the firm and the industry -may help formulate the marketing research problem. Which of the following statements is true about interviews with industry experts?

• A) Typically, expert information is obtained by unstructured personal interviews without administering a formal questionnaire.
• B) These experts may be found both inside and outside the firm.
• C) It is helpful to prepare a list of topics to be covered during the interview.
• D) All of the above are true.

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Definitions:

Finance Professor

An academic expert specializing in teaching and research related to financial markets, instruments, and institutions.

Marginal Cost

The additional cost incurred from producing one more unit of a product or service.

Marginal Benefit

The boost in satisfaction or utility experienced upon consuming one more unit of a particular good or service.

Hotel Manager

A person responsible for the daily management of a hotel and its staff, focusing on aspects such as operations, financials, and customer service.