Question detail
CycleNest serves price-sensitive customers while using retained profit; the case evidence includes break-even output of ?8,562, sales of 287 units, and a 31% 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 supplier lead time, owners 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 stakeholders and shareholders as identical and ignore the effect on owners.
- D. Choose the largest sales figure without checking costs, finance, or context.
Answer
The correct option is: Use benefits, techniques, market, drawbacks to judge supplier lead time, owners impact, and the business objective in Qualitative, quantitative and decision-making data.
Explanation
Choose this response because Use benefits, techniques, market, drawbacks to judge supplier lead time, owners impact, and the business objective in Qualitative, quantitative and decision-making data. The case evidence gives ?10,062, 287 units, and 31%, so the answer must explain the commercial effect rather than repeat a definition. The distractors are weaker because they confuse stakeholders and shareholders, miss the owners, 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..
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