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 this statement have been made?

Question

Quizplus · Accepted Answer

The statement made by the retail mall owner is discussing the options for a research project, indicating that the company is in the second step of the marketing research process: developing the research plan. This step involves determining what information is needed, how it will be collected, and what the budget and timeline will be for the research project.

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