Apex Jerseys, a manufacturer of sports apparel and sports equipment, has experienced a sharp drop in sales over the last quarter. The marketing manager asks the marketing research department to investigate this alarming development. The first step taken by the researchers in their process should be to ________.

Question

Quizplus · Accepted Answer

The first step in the marketing research process is to formulate a specific research problem. This involves defining the research objectives, specifying the research questions, and identifying the information needed to address the problem. Only after this step is completed can the researchers move on to designing a methodology and selecting appropriate data collection methods.

Apex Jerseys, a Manufacturer of Sports Apparel and Sports Equipment