Question

Market research should be conducted: a. when market share for a product has dropped for three consecutive quarters. b. only when it can be done for free. c. when the expected value of the information is greater than the cost of obtaining it. d. when a company can leverage data from the CRM system to uncover new data.

Answer 1

Answer:

d. when a company can leverage data from the CRM system to uncover new data.

Explanation:

Market research should be conducted on a regular basis to follow up the initial market research.

"Some companies consider ongoing market research to be crucial to the success of their business. With new technologies, this ongoing research doesn't always require large amounts of funding. Some business owners simply use existing statistics, create blogs, websites and email to get customer feedback and needed market research information. This continual market research allows a company to track sales, spot product or service issues, determine its market share and collect other relevant information pertaining to the sale of its products."

Reference: Moore, Jennifer. “How Often Should You Conduct Market Research?” Small Business - Chron.com, Chron.com, 26 Oct. 2016