In Principle, Households Ultimately Control

question 20

Multiple Choice

In principle, households ultimately control:

• A) businesses.
• B) the government.
• C) both businesses and the government.
• D) neither businesses nor the government.

Identify the advantages and limitations of primary and secondary data in market research.

Recognize how market research supports decision-making in marketing.

Describe the market research process, including the initial step of defining the problem.

Explain how market research aids in segmenting and targeting customers, along with developing marketing programs.

---

Definitions:

Quantitative

Quantitative refers to a type of information or data that can be measured and expressed numerically, often used in research to quantify behaviors, opinions, or other defined variables.

Popular

Liked, admired, or enjoyed by many people or by a particular person or group.

Psychologists

Professionals who study cognitive, emotional, and social processes and behavior by observing, interpreting, and recording how individuals relate to one another and to their environments.

General Public

A term referring to the unorganized, broad group of people in society who do not belong to particular subgroups or professions; the average people.