Establishing the Need for Marketing Research

question 1

Multiple Choice

Establishing the need for marketing research:

• A)arises when managers must make decisions and they have inadequate information
• B)is determined by a quantitative analysis of the appropriateness of marketing research should be undertaken for every decision made in the firm
• C)stems from the need to establish a monitoring system that alerts mid management to either opportunities in the marketplace or problems
• D)should not come from a monitoring system but rather from management intuition
• E)should be determined only after the problem is clearly defined

Employ stem-and-leaf displays for simple data visualization and analysis.

Understand the concept and calculation of cumulative percent frequency.

Recognize characteristics of data distribution, including skewness.

Distinguish between frequency, relative frequency, cumulative frequency, and percent frequency.

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Definitions:

Bones

The rigid connective organs that make up the skeleton of vertebrates, providing structure and protection.

Teeth

Hard, calcified structures in the mouths of many animals, including humans, used for biting and chewing food.

Pastoralist

People or cultures that rely on domesticated animal herding as their primary source of livelihood.

Agricultural

Pertaining to farming or the cultivation of plants and the rearing of animals to provide food, fiber, and other products.