Which Phase of the Market Research Programme Is Generally the Most

question 25

Multiple Choice

Which phase of the market research programme is generally the most costly?

• A) interpreting data
• B) preparing reports on findings
• C) collecting data
• D) analysing data
• E) all of the above

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Definitions:

Market Price

Market price is the current price at which a good or service can be bought or sold in a competitive marketplace.

Profit

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Short Run

A period in which at least one factor of production is fixed, constraining the ability of a firm to adjust its output levels.

TVC

Total Variable Cost, which refers to the total of all costs that vary with the level of output or production activity.