To Ensure the Primary Data They Collected About Consumer Reactions

question 54

Multiple Choice

To ensure the primary data they collected about consumer reactions to their product were accurate,the makers of Brand X Toiletries hired a single research firm to visit certain cities in various countries.In the past,the company had used mail and telephone surveys by local companies in each country to gather data,but it was concerned about whom these companies were surveying and if they actually fit the demographic and lifestyle profiles of Brand X's target market.Brand X hired a new research firm to overcome the _______ problem that can occur when collecting primary data in global markets.

• A)Unwillingness to respond
• B)Limited access
• C)Unreliable sampling procedures
• D)Inaccurate language translation
• E)Insufficient comprehension

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Definitions:

Marginal Cost Curve

A curve depicting the change in the total cost of production when the output is increased by one more unit, essentially showing the cost of producing an additional unit.

Purely Competitive Market

A market structure characterized by many buyers and sellers, homogeneous products, and the absence of barriers to entry or exit.

Oligopolistic Market

A commercial structure distinguished by a select few corporations having considerable sway over the determination of market prices and the nature of competition.