The Marketing Chief of Fossil Is Considering the Introduction of a Super

question 47

Multiple Choice

The marketing chief of Fossil is considering the introduction of a super functional,fashionable wristwatch for men and women priced at $99.For this,he decided on 30 telephonic interviews from their customer database,50 valid survey responses from individuals whose income is greater than $60,000 and 2 focus-groups.To which of the six steps of the marketing research process do the actions of the marketing chief for Fossil fall into?

• A) defining the problem
• B) developing an approach to the problem
• C) doing analysis
• D) doing fieldwork or collecting data
• E) formulating the research design

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Definitions:

Intended Third-party

Someone who, although not a direct participant in a contract or agreement, stands to benefit from the execution of the agreement.

Incidental Third-party

A person or entity indirectly involved or unintentionally benefited by a transaction or contract between two other parties.

Beneficiary

An individual or entity designated to receive benefits or assets from an insurance policy, will, or trust.

Third Party

An individual or entity separate from the two parties directly involved in a contract, agreement, or dispute.