George Duncan, Marketing Manager at Conrad & Scott (C&S) Inc., is planning to make a few changes in the marketing mix of a particular brand of cereal. He is considering conducting a survey of customers to see how they would react to some of the changes. However, before he initiates this survey, he evaluates the information he expects to get from such a survey and concludes that the costs exceed the expected value of the information. Which of the following additional information, if true, would be most likely to persuade George to reevaluate the information and push ahead with the survey?
A) C&S's main competitor had registered a spike in sales last year after it used a survey to tweak the price and features of their bestselling cereal.
B) These changes are not likely to impact the price or features of the product in a significant manner.
C) New metrics are now available for this survey that deliver more accurate information by surveying a more targeted population.
D) These changes were instituted in the marketing mix of a different cereal brand of the same company and were accepted readily by customers, resulting in an increase in sales.
E) This customer survey is one of the cheapest and most accurate models available in the market.

Question

Quizplus · Accepted Answer

If new metrics are available that deliver more accurate information by surveying a more targeted population, the value of the information obtained from the survey could increase, potentially justifying the cost.