Which of the following is a major function of marketing research?

Question

Quizplus · Accepted Answer

Scanning for opportunities and threats is a major function of marketing research. This involves gathering information and analyzing the external environment to identify potential opportunities and threats that may impact a company's marketing efforts. Marketing research is also used to gather insights about consumer behavior, to test new products and concepts, and to evaluate the effectiveness of marketing campaigns. However, developing a marketing strategy and conducting industrial espionage may be components of marketing research, but they are not the primary function. Developing a budget for a promotional program is more closely related to marketing planning than research.

Which of the Following Is a Major Function of Marketing