Marketing Research Refers to

question 231

Multiple Choice

Marketing research refers to

• A)the process of systematically collecting and analyzing information in order to define a marketing problem.
• B)the use of information technology to find objective solutions to a marketing problem.
• C)the process of defining a marketing problem and opportunity,systematically collecting and analyzing information,and recommending actions.
• D)the use of subjective data such as interviews and observation to complement empirical data obtained through the use of information technology.
• E)the science of using observable human behavior in order to identify and solve marketing problems.

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Definitions:

Cost Control

The practice of managing and reducing business expenses to increase profits without compromising product or service quality.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from the revenue generated from sales.

Operating Expenses

The costs associated with the day-to-day operations of a business, excluding costs related to production.

Depreciation

Depreciation is the accounting process of allocating the cost of a tangible asset over its useful life, reflecting its decrease in value over time.