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Which of the following statements represents a possible measure of success in the first step of the five-step marketing research approach, defining the problem?
1. You have three weeks and $10,000 to determine if it is going to be profitable to serve breakfast on weekdays or not.
2. If three year olds like this, then it stands to reason four-year olds will like it even more.
3. If observations show that children like Toy A more than Toy B in terms of hours spent playing with it, then we will move ahead with making Toy A.
4. Let's identify the most cost effective method of advertising.
5. Use mail questionnaires, not focus groups.

Respuesta :

OlanmaE

Answer: 4. Let's identify the most cost-effective method of advertising.

Explanation:

Marketing research encompasses all the processes involved in bettering the quality of goods and services as well as the distribution process.

Problem definition is the first stage which entails pointing out the what, when, why and how of a problem of interest. To arrive at a definition, the problem should be discussed with the decision-maker, secondary data analyzed, and qualitative research carried out.

The fourth option has arrived at a defined problem which is to ascertain the most cost-effective method of advertising.

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