PRC-3 · Chapter 7 · Question 33 of 72
Before launching a new flavor of chips, a snack company organizes focus groups and online surveys to gather data on consumer taste preferences. What is this systematic data gathering called?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Market research
Explanation
Market research is the process of systematically gathering, recording, and analyzing data about customers and the market to make informed decisions.
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