Several years ago, SwissAir made some unwise investments to pay for a planned expansion. As a result, the company had to make some cost-cutting moves that alienated its customers. Eventually, the company declared bankruptcy, regrouped, and found itself able to resume business. Its board of directors recently announced that the company would resume flying if it could prove that the airline could regain at least 75 percent of its lost customers. It decided to allocate $50,000 to determine the likelihood that its former customers would fly on the airline again and find methods requiring little or no money that could be used to increase that probability. This description represents which step in the marketing research approach?

Question

Quizplus · Accepted Answer

The description represents the step of defining the problem, as it involves identifying the issue of regaining lost customers and determining the likelihood of their return.

Several Years Ago, SwissAir Made Some Unwise Investments to Pay