A preliminary investigation designed to gain an awareness of marketplace conditions is known as:
A) test marketing.
B) situation analysis.
C) unit analysis.
D) problem definition .

Question

Quizplus · Accepted Answer

A situation analysis is conducted to gain an understanding of the marketplace conditions, including customer needs, competitors, and external factors that may impact the business. Test marketing is a more specific type of research conducted on a product or service before a full launch, while unit analysis involves analyzing individual components of the business. Problem definition is the process of identifying and defining a specific issue or challenge that needs to be addressed in the marketplace.

A Preliminary Investigation Designed to Gain an Awareness of Marketplace