Which of the following is true about marketing research?

Question

Quizplus · Accepted Answer

Marketing research is an important tool used by companies to understand their customers and develop marketing strategies that match their customers' needs. It helps in identifying customer preferences, behavior, and trends. By gathering information through various methods, companies can customize their marketing mixes to meet the needs of their target market.

Option A is incorrect because SWOT analysis is a part of a company's internal analysis and its strengths, weaknesses, opportunities, and threats. Marketing research focuses on gathering information on the external environment, including the market, customers, competition, and trends.

Option C is incorrect because personal interviews are still a common method of surveying in marketing research, along with other methods such as online surveys, telephone interviews, and focus groups.

Option D is incorrect because marketing research and marketing analytics are different but complementary tools that help companies to make informed decisions. Marketing analytics involves using data analysis and modeling techniques to measure the effectiveness of marketing campaigns, while marketing research involves gathering primary and secondary data about customers, markets, and competitors.

Option E is incorrect because regulatory compliance is a legal and ethical issue that pertains to a company's adherence to industry standards and government regulations. Marketing research may be used to obtain information about these issues, but it does not facilitate the compliance process.

Which of the Following Is True About Marketing Research