The retail mall owner told the marketing researcher, "We have the option of staying open late twice a week or opening up an hour early every day. We need to know which will be most profitable since we cannot do both. The decision must be made in 11 weeks and we only have $10,000 budgeted for this research project." In which step of the marketing research process would the owner determine this budget and time frame?

Question

Quizplus · Accepted Answer

The owner would determine the budget and time frame in the second step of the marketing research process, which is developing the research plan. This step involves specifying objectives, determining data sources, developing a research design, and formulating a budget and timeline for the project.

The Retail Mall Owner Told the Marketing Researcher, "We Have