Berne Retail plans to introduce new private-label brands for beverages. The marketing team will undertake a survey to obtain feedback on these brands through a test marketing exercise. The data collected in this research study will be collated in terms of frequency of purchase and subjected to statistical analysis to determine the brands that have the potential to earn the most. The best-performing new brands will be then chosen for a full-scale rollout. This scenario is an example of _____.

Question

Quizplus · Accepted Answer

The scenario described involves a survey and statistical analysis of data to determine the potential for sales of new private-label brands. This is an example of quantitative research, which involves collecting and analyzing numerical data to make decisions. The other options, such as psychographic research and demographic research, focus on different types of data and methods of analysis. Geodemographic research involves analyzing data about geographic patterns and demographics.

Berne Retail Plans to Introduce New Private-Label Brands for Beverages