Question : Which of the following is an example of a market research method?
Option 1: Product pricing
Option 2: Sales forecasting
Option 3: Customer surveys
Option 4: Advertising campaign development
Correct Answer: Customer surveys
Solution : The correct answer is (c) Customer surveys.
Customer surveys are an example of a market research method. Market research involves collecting and analyzing data to gain insights into markets, customers, competitors, and other relevant factors that impact business decision-making. It helps companies understand customer needs, preferences, and behaviors, as well as evaluate market opportunities and assess the effectiveness of marketing strategies.
Customer surveys are a common market research method used to gather information directly from customers. Surveys can be conducted through various means such as online surveys, phone surveys, in-person interviews, or mailed questionnaires. They typically consist of a series of questions designed to gather feedback, opinions, and insights from customers regarding their experiences, preferences, satisfaction levels, or other relevant aspects.
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