In Establishing the Need for Marketing Research, Which of the Following

question 25

Multiple Choice

In establishing the need for marketing research, which of the following would serve as a good decision rule for managers?

• A) Managers need to ensure that competitors are using marketing research. Therefore, a company considering marketing research would not be at a competitive disadvantage.
• B) Managers need to determine the value to be derived from marketing research.
• C) Managers need to determine the cost of conducting marketing research.
• D) Managers need to weigh the value derived from the marketing research with the cost of obtaining the marketing research information.
• E) Managers need to ensure that subordinates are in favour of conducting the marketing research.

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Definitions:

Physically Strong

Having significant physical power, muscle strength, and stamina to perform tasks that require physical effort.

Good Life

A life well lived; the most desirable way to live.

Aristotle

An ancient Greek philosopher and scientist, one of the greatest intellectual figures of Western history, he made vast contributions to various fields, including logic, metaphysics, ethics, and biology.

Moral Principles

Fundamental guidelines that govern ethical behavior, reflecting what is considered right or wrong in society.