Regarding Marketing Research

question 67

Multiple Choice

Regarding marketing research,

• A) when time is short and a decision must be made, it is better not to do a research project that can answer only some of the questions.
• B) a good researcher will understand the marketing problem as well as the technical details of marketing research.
• C) marketing managers really don't have to know much about how to plan marketing research to use the results effectively.
• D) most large companies don't use outside research specialists.
• E) the marketing manager is usually too involved to be objective, so a research specialist should define the problem.

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of operations and output increases.

Making a Profit

The financial gain obtained when the revenue generated from a business activity exceeds the expenses, taxes, and costs associated with maintaining the operation.

Breaking Even

The point at which total costs and total revenue are equal, meaning no net loss or gain has been made.

Taking a Loss

A situation where a business or individual sells an asset for less than its purchase price, resulting in a financial deficit.