Question

You are the Vice President of Sales and Marketing for a major consumer products company, and you just received the quarterly global sales report for the second quarter. The first thing you notice in the report is the dramatic decline in sales in the Latin American territory. This drop in sales has come as a total surprise to you and your management team. None of your team members have any concrete insights into why the sales performance was so dismal.
Which one of the following types of research should your team conduct in order to fully understand what is happening in the Latin American territory and what corrective action is needed to revive sales performance?

a. Conclusive research
b. Exploratory research
c. Descriptive research
d. Experimental research
e. Database research

Answer 1

Answer:

b. Exploratory research  

Explanation:

As the sales has been declined in Latin American territory with no knowledge to the team about sudden decline in sales performance therefore, Exploratory research can be helpful as to collect the information through the various means such as focus groups, customer advisory boards etc to know the exact reason for the decline so that the corrective action plan can be formulated