Choose all that apply: Which of the following would be considered an advantage of market research?

Question

Responses

Aids in forecasting.
Aids in forecasting.

May reduce the risk of new product development.
May reduce the risk of new product development.

Helps a company keep track of what is happening in its market.
Helps a company keep track of what is happening in its market.

Helps to solve problems in the marketplace.

Answer 1

All of the following would be considered advantages of market research:

1. Aids in forecasting.
2. May reduce the risk of new product development.
3. Helps a company keep track of what is happening in its market.
4. Helps to solve problems in the marketplace.

Each option reflects a key benefit of conducting market research.