Market research is a systematic approach to determine consumer interest by gaining consensus from a group of experts while maintaining their anonymity.

Question

Quizplus · Accepted Answer

Market research is a systematic approach to gather and analyze information about consumers, including their preferences, behaviors, and attitudes towards a product or service. It involves various methods such as surveys, focus groups, and interviews to collect data directly from consumers. The use of experts is not a primary component of market research, and anonymity is not related to gaining consensus but rather to protecting the privacy of respondents.

Market Research Is a Systematic Approach to Determine Consumer Interest