Question

After the practice being in existence for almost 5 years, Dr. Tyrone Jones Pouzar hired a market research company to analyze his market share and tell him which groups of customers were the most profitable to his group practice. Tyrone will probably use the results of this research to:__________

Answer 1

Answer:

It is likely that he will use the results of this research to create strategies that will improve his business management and results.

Explanation:

The results of Tyrone's company's market research will promote great strategies for his business that will optimize results and allow the entrepreneurial work to be extremely profitable. Among these strategies, we can consider that Tyrone will know its customers better and will be able to adjust the prices of products according to the opinion and standard of customers. It will also be able to adjust the offer of these products, according to the adjustment of prices and customer demand. In addition, the research will be useful for Tyrone to determine the market segments he should follow and for him to adjust his positioning strategies.