The metrics surrounding the value of marketing research should demonstrate that risk was mitigated and quantify the financial value of that risk reduction.

Question

Quizplus · Accepted Answer

The statement is true. The primary purpose of conducting marketing research is to reduce risk and uncertainty associated with market decisions. The metrics used to evaluate the effectiveness of marketing research should demonstrate the value of risk reduction and quantify the financial benefits of avoiding potential losses. This can include metrics such as increased sales, improved customer satisfaction, reduced costs, and increased profitability.

The Metrics Surrounding the Value of Marketing Research Should Demonstrate