In which situation will market research be considered incomplete?
Answer and explanation
Correct answer: When opinions are taken from only one type of customer
Market research should represent the relevant customer groups and examine needs, preferences, affordability, competition, and buying behaviour. Taking opinions from only one type of customer can create sampling bias and may hide the views of other segments. Asking about needs, studying competitors, and checking affordability are useful components, but research should combine them rather than rely on a narrow group.
Frequently asked questions
What is the correct answer to this question?
When opinions are taken from only one type of customer
Why is this the correct answer?
Market research should represent the relevant customer groups and examine needs, preferences, affordability, competition, and buying behaviour. Taking opinions from only one type of customer can create sampling bias and may hide the views of other segments. Asking about needs, studying competitors, and checking affordability are useful components, but research should combine them rather than rely on a narrow group.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
