When a Firm Cannot Conduct an Entire Marketing Research Project

question 67

Multiple Choice

When a firm cannot conduct an entire marketing research project in house, it must select an external supplier for one or more phases of the project. One of the things that the firm does not need to consider or do when selecting an external research supplier is .

• A) develop criteria for selecting an outside supplier
• B) compile a list of prospective suppliers
• C) realize that the cheapest bid is not always the best bid
• D) All of the above must be considered or done.

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Definitions:

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, visible in GDP, real income, employment, industrial production, and wholesale-retail sales.

Budget Deficit

The situation in which a government's expenditures exceed its revenues, leading to borrowing or currency issuance.

Taxes

Compulsory contributions to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

Automatic Stabilizers

Economic policies and programs, like unemployment benefits and progressive taxation, that automatically help stabilize an economy by decreasing the effects of economic fluctuations.