<em>Marketing studies</em> refer to the analysis of the relationships and variables involved in the markets, for which different statistical tools are used, marketing studies have several purposes, according to the approach sought by the study you can investigate whether a certain product of the market is known, if it is considered expensive or economical, if the population would be willing to buy a new product or because it would stop buying an existing one, if the advertising used for current sales has good results, among other multiple investigations that can be make.
In this case, as the product already existed in the market and had a sales trend, the first thing the manager should do when noticing the change in sales is to try to identify the reasons for the problem, before trying to experience a solution that does not come of data.
Answer
C. The manager should first <em>do marketing research to identify what needs were not being satisfied.</em>
The answer is <span>Kiichiro Toyoda</span>
The best way to describe how that idea was recognized is <u>"finding a gap in the marketplace".</u>
Numerous organizations need to find the gap in the market. The gap in the market is a particular region. A zone where you can command. A region where are little conceivable outcomes for another person to surpass your mastery. On the off chance that you prevail to discover a specialty where you are the just a single, at that point it is extraordinary for your enterprising profession. But, likewise it is extraordinary on the off chance that you can discover a space where you will be the one of a kind player in an established market. The market where competition is low.
True Hope This Has Helped
If the firm can increase its profit by increasing its output then the firm is not producing at where the marginal cost is equal to the marginal revenue. A profit-maximizing firm in a competitive market will produce its output at the point in which MC=MR.
