Question

Research dollars will most likely be allocated to the:

Multiple Choice

• most unprofitable end-product or service.

• most profitable end-product or service.

• product or service with the highest current or projected dollar value.

• most likely candidate for a successful new product or service rollout.

• supplier with the poorest performance record.

Answer 1

The answer is " product or service with the highest current or projected dollar value."

Marketing research is a process where systematic gathering of data takes place so that needs of the customers can be identified. Organization spend more dollars on the product or service whose current and forecasted dollar value is the highest because: -

• It provides important information from sales report
• It directly or indirectly helps in designing effective marketing campaign.
• It's gives the clear picture about customers' needs and perception about the product.
• It helps in decision making process about consumer behavior and product development