Question detail
QuickFix Repairs serves business clients while changing promotion; the case evidence includes supplier lead time of ?6,246, sales of 161 units, and a 27% change in costs or demand. Which option best applies Identify benefits and drawbacks of market research techniques and select the best method for a given business?
Try the question, check the answer, then read the explanation to understand the curriculum point.
At a glance
MCQ
Type
practice
Style
Topic
The purpose and methods of market research
Question
- A. Use benefits, techniques, market, drawbacks to judge net profit margin, lenders impact, and the business objective in Qualitative, quantitative and decision-making data.
- B. Give only a definition of The purpose and methods of market research without using the case evidence.
- C. Treat revenue and profit as identical and ignore the effect on lenders.
- D. Choose the largest sales figure without checking costs, finance, or context.
Answer
The correct option is: Use benefits, techniques, market, drawbacks to judge net profit margin, lenders impact, and the business objective in Qualitative, quantitative and decision-making data.
Explanation
The option is correct because Use benefits, techniques, market, drawbacks to judge net profit margin, lenders impact, and the business objective in Qualitative, quantitative and decision-making data. The case evidence gives ?7,746, 161 units, and 27%, so the answer must explain the commercial effect rather than repeat a definition. The distractors are weaker because they confuse revenue and profit, miss the lenders, or ignore the business objective.
Common mistake
Qualitative, quantitative and decision-making data common mistake 1
Giving a vague answer instead of directly addressing: Identify benefits and drawbacks of market research techniques and select the best method for a given business..
Answer by clearly explaining how to identify benefits and drawbacks of market research techniques and select the best method for a given business..
Related flashcards
Flashcard 1 of 5
Related practice questions
Question 1 of 5
Choose an answer, get feedback, then move sideways through the set.
