Which of the following are useful for conducting market research

Posted By Admin @ September 03, 2022

Question:

Which of the following are useful for conducting market research?

O
A. Budget spreadsheets
O B. Focus groups
O C. Cost-benefit analysis
O D. Reference books

Answer:

The focus group is useful for conducting market research.

Market research refers to the gathering of information and evaluation of the target market. Market research is a vital aspect of a business as the organization can get valuable information from the consumers which will be used in the manufacturing of products that are beneficial to the consumers and products that the consumers are satisfied with.

It should be noted that the focus group is essential when conducting the market research. The focus group simply means a small group of people who responds to a survey or discuss about a particular product with the manufacturers.

Therefore, the focus group is useful for conducting market research. The correct option is B.

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