Market research can be used to help address which of the following business questions?
should a current product or service be altered or eliminated?
Should the organization expand to new markets?
What should be the creative focus of a new advertising campaign?
What product or service should be developed next?
All of these

Question

UpStudy AI · Accepted Answer

**Answer:** All of these.

**Explanation:**

Market research is a versatile tool that can inform a wide range of business decisions. Here's how it applies to each of the listed questions:

1. **Should a current product or service be altered or eliminated?**
   - **Market research** can provide insights into customer satisfaction, usage patterns, and preferences, helping businesses decide whether to modify, discontinue, or continue a product or service.

2. **Should the organization expand to new markets?**
   - By analyzing market trends, competitor performance, and consumer behavior in potential new regions or demographics, market research helps assess the viability and potential success of expansion efforts.

3. **What should be the creative focus of a new advertising campaign?**
   - Understanding the target audience's preferences, attitudes, and media consumption habits through market research can guide the development of effective and resonant advertising strategies.

4. **What product or service should be developed next?**
   - Identifying gaps in the market, emerging trends, and unmet customer needs through market research can inform the development of new products or services that align with consumer demand.

Given that market research provides valuable data and insights applicable to all these areas, the correct choice is:

**All of these**
All of these

Upstudy AI Solution

Answer

Solution

Mind Expander

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