Market research is the vehicle for gathering the information that serves as the foundation for the company’s marketing plan, helps avoid costly marketing mistakes, and can uncover unmet customer needs the business can serve.
Which of the following statements concerning marketing research is false?
A) Market research is the vehicle for gathering the information that serves as the foundation for the company’s marketing plan, helps avoid costly marketing mistakes, and can uncover unmet customer needs the business can serve.
B) Small businesses cannot afford to miss their target markets and market research can help them focus their efforts.
C) Small companies are at a distinct disadvantage compared to larger ones when conducting market research since it is so expensive.
D) Market research involves systematically collecting, analyzing, and interpreting data pertaining to the small company’s market, customers, and competitors.