When is conducting market research generally most effective?
A) When entering international markets
B) When sales begin to drop
C) When competitors release newer, competitive products.
D) When developing new products or altering existing products
E) When a new product is ready to be released

Question

Quizplus · Accepted Answer

Conducting market research is generally most effective when developing new products or altering existing products because understanding customer needs and preferences is crucial in creating successful products that meet their expectations. Research helps in identifying market trends, consumer demands, and preferences, and offers insights into potential improvements that can be made to existing products, and new opportunities for product development.

When Is Conducting Market Research Generally Most Effective