Question

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Business people tend to be more cautious before embarking on a marketing research study, recognizing that research is often __________.A. expensive and time-consuming.
B. an impediment to decisive management.
C. of little use in real marketing situations.
D. an academic exercise of little real value.
E. beyond most managers' ability to comprehend.

Answer 1

Answer:

The correct answer is A. expensive and time-consuming.

Explanation:

Market experimental research is the most scientifically valid method that requires selecting similar groups of subjects, subjecting them to different treatments, controlling for strange variables, and validating whether the differences in responses are statistically significant. Based on a simulated marketing situation, when applying the method, special attention should be given to the rigorous definition of the problem. Experimental research is very expensive, time consuming and its purpose is to achieve cause and effect relationships, eliminating competitive explanations of the observed results. To the extent that the design and execution of the experiment eliminates other alternative hypotheses that may explain the results, the managers of the marketing research will be able to trust conclusive conclusions.