In the context of marketing research, the iceberg principle states that:
A) a researcher must determine the types of data that will best answer each research question before redefining a problem into research questions.
B) data becomes knowledge when someone, either a researcher or a decision maker, interprets the data and attaches meaning.
C) managers are aware of just a small portion of the True problem, and this small portion is generally the visible symptom of a bigger underlying problem.
D) 80 percent of the marketing research budget of a company is typically spent on solving 20 percent of the problems facing the company.
E) the importance of marketing research is often underestimated in organizations, and what people see is only a small part of a much bigger support system.

Question

Quizplus · Accepted Answer

The iceberg principle in marketing research suggests that managers may only be aware of the visible symptoms of a larger underlying problem. This means that the true problem is much larger and more complex than what meets the eye, much like an iceberg where only a small portion is visible above the waterline while the bulk is hidden below it. Understanding this principle is essential to conducting effective marketing research as it ensures that researchers are asking the right questions and analyzing the right data to uncover the root causes of the problem.

In the Context of Marketing Research, the Iceberg Principle States