The means by which a firm obtains information before introducing new products is
COMMERCE
WAEC 2023
The means by which a firm obtains information before introducing new products is
- A. market segmentation
- B. advertising
- C. promotion
- D. market research
Correct Answer: D. market research
Explanation
Market research is the study of consumers' demand by a firm in order to assist it in expanding its output and the marketing of its product. It is the systematic and objective search for and the analysis of information to guide managers in production and marketing.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *