A company is determining the demand for a new product and how much consumers are willing to pay for it. In order to do this, the company should use
A) case studies.
B) marketing research.
C) trial and error.
D) successful past experiences.
E) intuition.

Question

Quizplus · Accepted Answer

Marketing research can help gauge the demand for a product and how much consumers are willing to pay for it. Most companies use marketing research to determine the kinds of goods and services to provide and the features they must possess.

A Company Is Determining the Demand for a New Product