The first marketing research priority for a new business is to determine:
A) consumer lifestyle and trends.
B) customer buying behaviour.
C) market potential.
D) advertising effectiveness.

Question

Quizplus · Accepted Answer

Market potential should be the first marketing research priority for a new business as it will help the business identify the potential size of the market, the target audience, and the marketing strategies that can attract the potential customers to the business. Consumer lifestyle and trends, customer buying behaviour, and advertising effectiveness are also important but they should come after market potential as it helps in positioning the business effectively.

The First Marketing Research Priority for a New Business Is