Which of the following is the first step of a formal marketing research process?
A) developing a research plan
B) identifying the research problem
C) collecting primary data
D) analyzing research data

Question

Quizplus · Accepted Answer

Before conducting any marketing research, the first step is to identify the research problem or objective. This is crucial because the entire research process and the subsequent analysis would depend on how well the research problem has been defined. The research problem should be specific, measurable, achievable, relevant, and time-bound. Once the research problem is identified, the research plan can be developed to address it.

Which of the Following Is the First Step of a Formal