A Marketing Research Project Is Warranted When ________

question 11

Multiple Choice

A marketing research project is warranted when ________.

• A) the required information is already in the organization
• B) the decision which the research addresses has already been made
• C) the research will be used for gaining political ends
• D) time or money are not available in adequate amounts
• E) the cost of the research is less than its eventual benefits

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Definitions:

Five Forces Model

A framework developed by Michael E. Porter to analyze a business's competitive environment in five key areas: competitive rivalry, the threat of new entrants, the threat of substitute products, the bargaining power of suppliers, and the bargaining power of buyers.

Competitive Forces

External factors that influence the competitive position of a firm within an industry, including competition, potential entrants, substitutes, buyers, and suppliers.

Profitability

A measurement of the efficiency and effectiveness of a company at generating profits from its operations.

Competition And Profitability

The relationship between the competitiveness of a market and the ability of firms within that market to generate profits.