Discuss the factors that influence whether or not marketing ...

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Discuss the factors that influence whether or not marketing research is needed.

Question 2

Strict ethical policies are followed by marketing researchers, such as keeping responses confidential.
 a. True
  b. False
 Indicate whether the statement is true or false

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Answer to Question 1

The determination of the need for marketing research centers on:

Time constraints  systematic research takes time, and sometimes the urgency of a situation precludes the use of research.
Availability of data  when managers lack adequate information, data need to be collected from an appropriate source in a timely fashion.
Nature of the decision  in general, the more strategically or tactically important the decision, the more likely it is that research will be conducted.
Benefits versus costs  when deciding whether to make a decision without research or to postpone the decision in order to conduct research requires examining whether the payoff or rate of return will be worth the investment, whether the information gained by marketing research will improve the quality of the marketing decision enough to warrant the expenditure, and whether the proposed research expenditure is the best us of the available funds.

Answer to Question 2

True

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TYSM

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Excellent