Market Research Is the Process of Researching a Specific Market

question 61

True/False

Market research is the process of researching a specific market to determine its size and trends.

---

Definitions:

Selling Price

The amount of money a buyer pays to purchase a product or service from a seller.

Mark-up

The uplift on the initial cost of items to cover business overheads and secure earnings.

Construction Purchased Saws

The acquisition of saws for the purpose of using them in construction projects, considered a capital expense.

Preferred Customer

A customer who receives special benefits or discounts due to their status or purchasing history with a company.