The marketing manager needs to know the cost of the research project before approving it.During which of the following stages of the marketing research process would such a consideration most likely take place
A) Step 1-defining the problem
B) Step 1-creating decision alternatives
C) Step 1-drafting the research objectives
D) Step 2-develop the research plan
E) Step 3-information collection

Question

Quizplus · Accepted Answer

The cost of the research project is primarily determined during the development of the research plan in step 2. This is when the resources needed, such as equipment, personnel, and time are estimated and budgeted for. The marketing manager will need to consider these costs before approving the research project. While understanding the cost of the project is important throughout the research process, it will have the greatest impact on the decision to move forward during the planning stage.

The Marketing Manager Needs to Know the Cost of the Research