The First Step in the Marketing Research Process Is To

question 8

Multiple Choice

The first step in the marketing research process is to:

• A)specify the sampling procedures to be followed.
• B)recognize a marketing problem or opportunity.
• C)collect primary data from the available sources.
• D)plan a research design and gather secondary data.

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Definitions:

Contract

A legally enforceable pact made between two or more entities, binding them in agreement.

Punitive Damages

Compensation awarded in a lawsuit that exceeds simple restitution and is intended to punish the defendant for wrongdoing and deter future similar acts.

Arbitrator's Award

The decision or outcome given by an arbitrator, who is a neutral third party, at the conclusion of an arbitration proceeding.

Authority

The power or right given to an individual or body to make decisions, enforce rules, or govern.