In the context of the ever-changing marketplace, which of the following statements best describes marketing research?
A)It overlooks the role of word-of-mouth advertising in the promotion process.
B)It helps managers to take advantage of opportunities in the market.
C)It excludes the external environment that affects sales.
D)It results in inaccurate forecasting as the marketplace keeps changing.

Question

Quizplus · Accepted Answer

Marketing research helps managers to understand the market environment, identify market opportunities, and take advantage of them. In the constantly evolving marketplace, research provides insights that can help businesses adapt to changes and stay competitive. Option A is incorrect because word-of-mouth advertising is often studied in marketing research as it can play a significant role in the promotion process. Option C is incorrect because external environmental factors such as economic, cultural, and technological changes are often considered in marketing research. Option D is incorrect because while forecasting can be challenging in a changing market, research helps to mitigate uncertainty and improve accuracy.

In the Context of the Ever-Changing Marketplace, Which of the Following