To be useful, market research must be structured, formal, and highly sophisticated.

Question

Quizplus · Accepted Answer

While market research should be well-planned and conducted with a specific goal in mind, it does not necessarily have to be highly sophisticated, formal or structured. Research can be as simple as conducting customer surveys or analyzing sales data, as long as it provides insights that can be used to make informed business decisions.

To Be Useful, Market Research Must Be Structured, Formal, and Highly