When a Marketing Manager Is Trying to Decide Whether a New

question 60

Multiple Choice

When a marketing manager is trying to decide whether a new product launch decision should be postponed until some additional marketing research can be conducted,which of the following questions should this manager ask himself or herself?

• A)Is the proposed research expenditure the best use of the available funds?
• B)Will the information gained by marketing research improve the quality of the marketing decision enough to warrant the expenditure?
• C)Will the payoff from the research be worth the dollar expenditures for research?
• D)all of the above

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Definitions:

Competitive Market

A market structure characterized by a large number of buyers and sellers where no single participant can significantly influence the price of goods or services.

Demand Curve

A graph showing the relationship between the price of a good and the amount of the good that consumers are willing to purchase at that price.

Deadweight Loss

The reduction in economic efficiency that happens when equilibrium is not reached or is unattainable for a specific good or service.

Import Tariff

A tax imposed by a government on goods and services imported into its country to protect domestic industries from foreign competition.