Which of the Following Is the First Step of a Market

question 54

Multiple Choice

Which of the following is the first step of a market research process?

• A) Determine the sources of information to fulfill the research objectives.
• B) Analyze, interpret, and summarize the results.
• C) Define the research problem and establish research objectives.
• D) Consider the costs and benefits of the research effort.
• E) Gather the relevant data from secondary or primary sources, or both.

---

Definitions:

Factory Utility Cost

The expenses associated with the utilities consumed by a factory or manufacturing plant, such as electricity, gas, and water.

Mixed Cost

A cost that contains both variable and fixed cost elements, making it partly dependent on the level of output or activity.

Cases Bottled

Refers to the quantity of products, typically liquids, packaged into bottles and prepared for distribution or sale.

Mixed Cost

A cost that contains both variable and fixed cost elements and changes in total with changes in production volume but not proportionately.