Amex Retail is a small retail chain that is a facing a drop in sales following a hike in prices of some of its most popular goods.The company is currently cash-strapped and needs a quick and efficient way to determine the specific products that are responsible for this drop in sales.Amex retail should ________ as it would be the cheapest and most effective solution to Amex Retail's current requirements.
A)utilize external agencies and partners
B)seek marketing intelligence inputs from high-end firms
C)seek information regarding the strategy adopted by competitors
D)utilize its internal databases for sales figures
E)hire a reputed marketing research firm

Question

Quizplus · Accepted Answer

Utilizing its internal databases for sales figures would be the cheapest and most effective solution for Amex Retail's current requirements, as it provides specific information regarding the products that have experienced a drop in sales. This approach allows the company to collect all required data in-house, without incurring additional expenses on external agencies or research firms.

Amex Retail Is a Small Retail Chain That Is a Facing