The First Step in the Marketing Research Decision-Making Process Is

question 37

Multiple Choice

The first step in the marketing research decision-making process is

• A) developing a hypothesis
• B) collecting relevant data
• C) outlining a process that can be used to collect the necessary information
• D) recognizing a unique marketing problem or opportunity

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Definitions:

Constructive Conflict

A type of conflict that leads to positive outcomes, encouraging growth and improvement.

Satisficing

A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, particularly when dealing with complex problems.

Scenario Planning

Scenario planning is a strategic planning method that organizations use to envision and prepare for various future possibilities.

Satisficing

A decision-making strategy that aims for a satisfactory rather than optimal solution by prioritizing the first option that meets a given threshold of acceptability.