Which of the Following Is TRUE

question 19

Multiple Choice

Which of the following is TRUE?

• A)Many managers cannot clearly and precisely state the nature of the decision problem they want investigated.
• B)Managers do not need to be actively involved in the marketing research process.
• C)If a decision maker will not change his decision regardless of the result of the research,the research should still be conducted for informational purposes.
• D)A researcher should not worry about the decision alternatives as decision makers typically will provide researchers with a complete list of them.
• E)All of the above statements are true.

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Definitions:

Early Adopters

The second group of consumers in the diffusion of innovation model, after innovators, to use a product or service innovation; generally don’t like to take as much risk as innovators but instead wait and purchase the product after careful review.

Fashion Trends

The direction in which fashion is moving, with changes in consumer preferences leading to the popularity of certain styles, fabrics, or themes in a given season or period.

Product Life Cycles

Describes the progression of a product through different stages from its launch to discontinuation, highlighting changes in marketing, production, and sales strategies over time.

Innovation

The process by which ideas are transformed into new products and services that will help firms grow.