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What is the role of market research in developing marketing strategy?
What is the role of market research in developing marketing strategy?
- It helps in determining market viability and reducing risk of failure.
- It helps in understanding customers' needs and increasing profitability.
- It plays a key role in conducting different types of experimentation.
- It provides a fact-based foundation for estimating sales and profitability. (correct)
What are the types of market research mentioned in the text?
What are the types of market research mentioned in the text?
- Component of Marketing Research
- Validity and Reliability
- Types of Experimental Design
- Exploratory, Descriptive, and Casual Research (correct)
How does market research help in reducing risk of failure?
How does market research help in reducing risk of failure?
- By providing a fact-based foundation for estimating sales and profitability.
- By determining market viability. (correct)
- By conducting different types of experimentation.
- By understanding customers' needs.
What is the importance of understanding customers' needs in market research?
What is the importance of understanding customers' needs in market research?
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What is the role of market research in conducting different types of experimentation?
What is the role of market research in conducting different types of experimentation?
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What is the role of market research in developing marketing strategy?
What is the role of market research in developing marketing strategy?
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What is the importance of understanding customers' needs in market research?
What is the importance of understanding customers' needs in market research?
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What are the types of market research mentioned in the text?
What are the types of market research mentioned in the text?
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How does market research help in reducing the risk of failure?
How does market research help in reducing the risk of failure?
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What is the role of market research in conducting different types of experimentation?
What is the role of market research in conducting different types of experimentation?
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