What is the five-step marketing research approach leading to
marketing actions? Please explain each one . (Word limit: 200
words)
Answers
The five-step marketing research approach consists of defining the problem, developing a research plan, collecting data, analyzing the data, and taking marketing actions. This systematic process helps businesses gather relevant information, and make informed marketing decisions.
1. Define the Problem: This step involves clearly identifying the marketing problem or opportunity that requires research. It is crucial to define the problem accurately to ensure the research efforts are focused and meaningful. This includes understanding the objectives, target audience, and specific areas to investigate.
2. Develop a Research Plan: In this step, a detailed plan is created to guide the research process. It includes determining the research design, data sources, sampling method, and data collection instruments. The research plan outlines the specific steps and techniques to be used to gather the required data effectively and efficiently.
3. Collect Data: This step involves gathering the data as outlined in the research plan. Primary data can be collected through surveys, interviews, observations, or experiments. Secondary data from internal or external sources may also be utilized. Care should be taken to ensure the data collected is accurate, reliable, and relevant to the research objectives.
4. Analyze the Data: Once the data is collected, it needs to be analyzed to derive meaningful insights. This step involves organizing, cleaning, and analyzing the data using statistical techniques or other analytical methods.
The goal is to identify patterns, trends, relationships, and significant findings that address the research problem and provide actionable insights.
5. Take Marketing Actions: The final step involves using the insights gained from the data analysis to make informed marketing decisions and take appropriate actions.
This includes developing marketing strategies, implementing marketing programs, and evaluating the effectiveness of the actions taken. The research findings should guide the decision-making process and help in achieving marketing objectives.
Overall, the five-step marketing research approach provides a structured framework for businesses to conduct research, gather information, and make data-driven marketing decisions. It ensures that businesses have a systematic and logical approach to understanding their target market, identifying opportunities, and developing effective marketing strategies.
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Related Questions
suggest any 5 methods by which the condition of technical education can be improved
Answers
Answer:
Acknowledge and address overcrowding.
Make funding schools a priority.
Address the school-to-prison pipeline.
Raise standards for teachers.
Put classroom-running and curriculum-building decisions in the hands of the community.
Explanation:
Technology can be utilized to improve teaching and learning and help our students be successful. ... Through the use of learning management systems (LMS) students can access online resources to get assistance on demand beyond the physical reach of their teacher. Technology can also extend education in another way.
assisted projects aimed at improving technical and vocational education. Introduction ... priorities as defined by aid recipients (see, for example, Gray &.
Technical education is a term applied to schools, institutions, and educational programs that specialize in the skilled trades, applied sciences, modern technologies.
Candice’s first job was at the grocery store making deli food. While in culinary school, she worked part time in a restaurant kitchen, and after finishing school, she found a position as a head chef. With her growing experience and advanced education, Candice has been able to _____.
Answers
Answer:
move up the career ladder
Explanation:
A career is a series of jobs that are related, whose foundation is based on interest, knowledge, training and experience. Moving up the career ladder means that one has continuously been growing in experience by moving from series of related jobs with fewer responsibilities to the one with more responsibilities within a specific profession.
Moving up the the career ladder also involve continuous advancement in education related to one's profession with a view to gaining more knowledge that would be applied to the chosen job hence above is an example of moving up the career ladder.
Answer:
B. move up the career ladder.
Explanation:
May I have brainliest please? :)
On the first day of the year, while covered as an individual under the Standard Plan and using in-network doctors, Jackie broke her leg while skiing. She incurred the following bills: ambulance ride to hospital, emergency room services, X-Ray of her broken leg ($530) and outpatient surgery to repair the broken leg ($10,000). How much would Jackie pay out-of-pocket for her surgery?
Answers
Jackie will have to pay $8,700 out-of-pocket for her surgery.
What is Insurance?This is a means of protection of an individual or property from risks of financial loss, damage etc.
The Standard plan usually runs for 12 months and the out-of-pocket expenses for medical care aren't usually reimbursed by insurance companies. The out-of-pocket limit can't be more than $8,700 for individuals which was why it was chosen as the most appropriate choice.
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Why did businesspeople and sugar planters in louisiana initially have reservations about seceding from the union?.
Answers
Many business people were unsure about this, but trade was crucial to the state's economy since it connected markets in New Orleans with northern and international markets.
In terms of economics, a market is a grouping of structures that enable parties to exchange goods and services. These structures include institutions, procedures, social interactions, and infrastructures. While parties may exchange products and services in exchange for cash, the bulk of markets rely on sellers offering their goods or services—including labor—to clients in return for payment. In this sense, a market is the process through which prices for products and services are set. Markets make it possible to allow commerce while also distributing and allocating resources in a community. All marketable goods may be assessed and valued thanks to markets. A market emerges more or less organically or may be purposely formed by human interaction in order to enable the exchange of rights (see ownership) of services and products.
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What are the two factors used to calculate productivity?
A. Goods produced and number of customers
B. Resources invested and goods lost
C. Goods produced and employees hired
D. Goods produced and resources invested
Answers
Goods produced and resources invested re the two factors used to calculate productivity.
How productivity is measured?Productivity is measured from different factors in the organization like the profit generate from the sales, number of customer increases, the amount of money invested in the company, the goods that are consumed of sell within span of time and others.
Thus, option D is correct.
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Answer:
Goods produced and resources invested
Explanation:
according to keynes, the level of economic activity is predominantly determined by the level of
Answers
Answer:
Aggregate demand
Explanation:
I hope this helps.
What is reality???????????????????????????????
Answers
Answer:
Reality is a state of consciousness and awareness whereby one can feel and comprehend his himself and his mind and his soul to live in.WARNING: if this is your exam question, please you might not pass with this answer. lolHope this helps
Good luck ALWAYS ✅.
An expression about whether financial statements conform with generally.
Answers
The expression that determines whether financial statements conform with generally accepted accounting principles (GAAP) is called an auditor's opinion.
It is the written conclusion of an auditor after examining a company's financial statements and assessing whether they are prepared in accordance with GAAP. In an auditor's opinion, there are four types of conclusions that can be reached:
Unqualified opinion: This is the most common type of opinion and indicates that the financial statements conform to GAAP and are free from material misstatements. This means that the auditor found no significant issues with the financial statements. Qualified opinion: This type of opinion indicates that the financial statements are fairly presented in all respects except for a specific item, which the auditor believes has not been properly accounted for. This may be due to a lack of information or an accounting treatment that does not conform to GAAP. Adverse opinion: This type of opinion is given when the financial statements do not conform to GAAP and are materially misstated. This means that there are significant issues with the financial statements that need to be addressed.Disclaimer of opinion: This type of opinion is given when the auditor is unable to form an opinion on the financial statements. This may be due to a lack of information or restrictions placed on the auditor by the client.Learn more about Generally accepted accounting principles:
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this purely competitive firm shown in the accompanying graph will not produce unless price is at least group of answer choices $5. $7. $10. $2.
Answers
This purely competitive firm will not produce unless the price is at least
$5 Option A
What is a competitive firm?Generally, In a market where there is just competition, the price is equal to either the marginal cost or the marginal income. It will generate products with prices that are at least equivalent to the typical variable costs.
The illustration indicates that the price (or marginal cost curve) crosses the average variable cost curve at $5. The point of the shutdown is at this moment. The company's variable expenses may be covered by its income at $5.
The price being below the average total cost may result in losses for the company, but this does not mean that manufacturing should be stopped. Even in the absence of manufacturing, the company may still have fixed expenses. Due to the firm's need to cover the fixed expenditures, an abrupt shutdown can result in greater losses.
The company should cease operations if its output falls below the threshold at which it can no longer pay its variable expenses. The company will be able to meet its variable expenses and should continue functioning if production rises over the shutdown threshold.
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What is the owner's liability in an LLC?
Answers
In an LLC (Limited Liability Company), the owner's liability is generally limited to their investment in the business. This means that personal assets of the owners, also known as members, are typically protected from being seized or used to settle the company's debts and obligations.
This limited liability feature offers a significant advantage for owners, as it separates their personal finances from the business's liabilities. However, there are some situations where an owner's liability may not be completely limited. For instance, if a member personally guarantees a loan for the LLC or engages in illegal, fraudulent, or negligent activities, they may be held personally responsible for any resulting damages or losses. Additionally, if the LLC fails to follow proper legal and operational formalities, the limited liability protection could be at risk.
an LLC provides owners with limited liability protection, shielding personal assets from the company's debts and obligations. This protection is not absolute, as owners may be held personally liable in certain circumstances, such as guaranteeing loans or engaging in unlawful actions.
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Which of the statements below is FALSE? A. A problem with using the dividend growth model is that it appears to underestimate the expected return for some stocks B. A problem with using the dividend growth model is that it produces a negative expected return whenever a firm cuts its dividends. C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks. D. The dividend model requires that a firm have a cash dividend history and that the dividend history shows a constant dividend or a positive growth in dividends.
Answers
Answer:
C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks.
Explanation:
In the case of the dividend growth model, it shows the underestimated of the return for some stocks, also it generated the negative return at the time when the firm could cut the dividend. ALso it needs that the firm has the history of the cash dividend and that history should show the same dividend or the positive growth
But it does not show the underestimate for all kind of the stocks
1. Your friend asks to borrow $50 and offers to pay you back with interest. What factors
would you consider in your decision to accept or decline their request?
Answers
The factors that you have to think about would before giving out the loan would be the following:
The loan periodThe ability to pay back the loanThe interest that is on the loanHow the money is to be returned.What is a loan?This is the term that is used to refer to an amount of money that would be given to a person that is the borrower by the lender for a period pf time and for them to pay back with interest.
To be able to determine if you are to give out a loan, you have to take the ability of the person to pay you back the amount as a fator.
Also you have to check the character of the person that you are to loan the money to.
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in what ways do prices help us allocate goods and services
Answers
Prices help us allocate goods and services by providing signals about the relative scarcity and demand for goods and services.
In a market economy, prices are determined by the interaction of supply and demand. When a good or service is in high demand but has limited supply, the price of that good or service will increase, signaling to producers to increase their production of that good or service. On the other hand, when a good or service has low demand, its price will decrease, signaling to producers to reduce their production of that good or service.
Prices help to allocate resources to their most efficient use by signaling to producers where there is demand for their products and where there is not. As a result, resources are directed towards the production of goods and services that are most in demand and can be produced most efficiently, leading to a more efficient allocation of resources.
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Sara, a 20-year-old girl, wants to save $3 a day for her retirement. Every day she places $3 in a drawer. At the end of each year, she invests the accumulated savings totaled $1.095 in a brokerage account with an expected annual return of 12%. If she keeps saving in this manner, how much (approximately) will she have accumulated at age 65?* A) $14,425,461 B) $1,487,261 C) $78,897 D) $39,521 E) None of the above
Answers
The answer is A) $14,425,461. The explanation is that Sara saves $3 every day, which amounts to $1,095 per year (365 days x $3).
She invests this amount at an expected annual return of 12%. Assuming she starts at age 20 and continues until age 65, she will have 45 years of saving and investing.
To calculate the accumulated amount, we can use the future value formula: FV = PV x (1 + r)^n, where FV is the future value, PV is the present value (initial investment), r is the interest rate, and n is the number of compounding periods. In this case, the present value is $1,095, the interest rate is 12% (or 0.12), and the number of compounding periods is 45.
Plugging these values into the formula, we get FV = $1,095 x (1 + 0.12)^45 ≈ $14,425,461. Therefore, Sara will accumulate approximately $14,425,461 by the time she reaches age 65 if she continues saving and investing in this manner.
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Why is it important for a dressmaker to possess the characteristics of being patient?
Answers
Answer:
And there will be numerous orders for various styles of clothing. In addition, there will be challenging clients and some of them will have poor attitudes. Regardless of the condition that he or she is, a dressmaker will always be polite and competent and manage stuff calmly.
Explanation: that
What must happen in order for an insurance company to make a payout? check all that apply.
Answers
A payout is a sum of money paid to a policyholder when a claim is accepted. It is a sum of money, especially a large one, that is paid to someone, for example by an insurance company.
Before an insurance company make a payout, the following must take place :
The insurance company must verify the claim.The insured party must file a claim.The insurance policy must be in place.The insured party must experience a covered loss.Learn more about insurance payout here : https://brainly.com/question/15136793
_____ refers to sending work functions to another country resulting in domestic workers losing their jobs.
A. Outsourcing
B. Repositioning
C. Downsizing
D. Restructuring
E. Worker mobility
Answers
A. Outsourcing refers to sending work functions to another country resulting in domestic workers losing their jobs.
Outsourcing is a business practice where a company contracts out certain business functions or processes to another company, often in a different country where labor is cheaper. This can include functions such as manufacturing, customer service, or back-office operations.
One of the main reasons companies outsource is to reduce labor costs and increase efficiency. However, outsourcing can have negative effects on domestic workers, who may lose their jobs to cheaper labor in other countries. This can lead to unemployment and economic hardship in affected communities.
Outsourcing is a controversial issue, with proponents arguing that it can benefit both companies and workers by creating new jobs and increasing productivity, while opponents argue that it can harm workers and lead to a race to the bottom in terms of wages and working conditions.
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what's two examples of a direct competition?
Answers
Answer and Explanation:
Direct competition is a type of competition where two or more businesses offers the same kind of product and compete in the similar market.
The examples like dominos versus pizza hut in terms of food, HP versus Dell in terms of laptop
So in this examples they sell the same kind of products and compete each other
True or False: Strip malls are usually climate controlled.
Answers
Answer: false
Explanation:
That’s the correct answer
The Strip malls are usually not the climate controlled, as it is the cause of the global warming.
What is the strip mall?Strip mall is also called the strip center or strip plaza. This type of mall is basically the common shopping center in North America. In which the stores are arranged in a well-defined row, consisting of the sidewalk in their front.
It is not the climate controlled because these malls contribute to the global warming indirectly pollute the environment, as the energy generators causes the green house gases.
Therefore, the given statement is false.
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seedbed preparation
activities
1.cleared the area
Answers
Because of their economic strength, western companies are powerful enough to impose their products on markets worldwide. this phenomenon is known as?
Answers
The phenomenon you are referring to is known as "cultural imperialism." Cultural imperialism is the dominance or influence of one culture over another, often through the export and imposition of its products, values, and norms.
Western companies, due to their economic strength and global reach, have the ability to penetrate and shape markets worldwide. They can promote and market their products and services aggressively, leading to the adoption of Western cultural elements in various societies. This can sometimes lead to a homogenization of cultures and a reduction in cultural diversity.
Cultural imperialism is a controversial concept, as it can have both positive and negative effects. While it can stimulate economic growth and technological development, it can also lead to the erosion of local traditions and cultural identities.
The impact of cultural imperialism varies across different regions and societies. Some argue that it promotes cultural exchange and the spread of knowledge, while others view it as a form of cultural domination and loss of autonomy.
It is important to note that cultural imperialism is not a one-way process, as cultures also engage in cultural borrowing and adaptation. Furthermore, local cultures have agency and the ability to resist or reinterpret external influences.
In summary, cultural imperialism refers to the dominance or influence of one culture over another through the export and imposition of its products, values, and norms. It can lead to both positive and negative effects, and its impact varies across different regions and societies. The concept sparks debates about cultural diversity, identity, and the balance between global influences and local traditions.
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What aspects of managing your account were probably more difficult before online banking was available?
Answers
Answer:
One of the main advantages of online banking is that you can access information about your account immediately and from anywhere. Before online accounts were available, you had to go to a bank or ATM on some specific cases if you wanted to carry out any type of transaction, e.g. pay a service or transfer money. Online accounts make it less likely for a person to go to a bank, e.g. in order to get a loan, I did it all online, I didn't even need to go to the bank.
Phishing, Identity Theft, Keylogging, and Pharming were arguably more difficult aspects of maintaining your account before internet banking was available.
Online bankingOnline banking, often called the internet banking, online banking, or home banking, is just an electronic account that allows bank or other commercial bank customers to execute a variety of financial transactions through the institution's website.
Prior to the availability of online banking, managing the account was undoubtedly more complex. Aspects are as follows:
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The additional $600 unemployment benefit ended on July 25, 2020. Even with the $300 Lost Wages Assistance Benefit, many Texans are being evicted from their homes and cannot provide basic necessities for their family. The unemployment rate is now over 7% in Texas, above our natural rate of unemployment. Did the government make the right decision with ending the extra $600 unemployment benefit from the CARES Act? Why or why not? Explain your position.
Answers
Answer: No they did not at this rate many of the citizens will go bankrupt and the economy will suffer a great lost do to the increase of the unemployment rate
Explanation:
Dwight was appointed a principal for Seacoast Securities in June of 1996. He continued in the position until 2012, when he left to start his own firm. How long did Seacoast need to maintain the record of his principal designation
Answers
Answer:
16 years
Explanation:
2012-1996=16 years
What are the functions of money?
A. A measure of debt
B. A storehouse of value
C. A form of bartering
D. A unit of account
E. A medium of exchange
Answers
Answer:
E,C, and D, and B
Explanation:
The functions of money are- a measure of debt, a storehouse of value, a unit of account, and a medium of exchange. Thus all the options except C are the functions of money.
What is money?Money is any item or verifiable record that is widely accepted in a particular country or socio-economic context as payment for goods and services and repayment of debts, such as taxes.
Money serves as a medium of exchange, a unit of account, a store of value, and, in some cases, a standard of deferred payment. Money was historically an emerging market phenomenon with intrinsic commodity value.
Its value is derived as a result of social convention, having been declared legal tender by a government or regulatory entity; that is, it must be accepted as a form of payment within the borders of the country, for "all debts, public and private."
Therefore, options A, B,D, and E are the functions of money.
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Ralph, the owner of a medium-sized business operated as a sole proprietorship, gives his vice-president, Wanda, authority to hire a new manager for the firm. Ralph gives Wanda detailed instructions about the salary she can contract to pay, but tells her that under no circumstances can she make commitments regarding the new manager's pension. Wanda contracts to hire Nick for the new managerial position. But to get Nick to sign up, she has to make certain specific pension commitments to him. Some years later, Nick sues Ralph for failing to fulfill the pension commitments. Which of the following is true in this case?
a. Ralph has no liability, because he expressly told Wanda that she didn't have authority to bind him on pension matters.
b. Ralph is bound on the basis of Wanda's apparent authority.
c. Ralph is bound on the basis of Wanda's implied authority.
d. Ralph is bound on the basis of Wanda's actual authority.
Answers
Answer:
b. Ralph is bound on the basis of Wanda's apparent authority.
Explanation:
Since in the question it is mentioned that wanda to hire nick for the managerial question but for that she wants to do certain pension commitments
Now After some years, nick sues ralph for the fulfill the pension commitments so here the ralph would be founded based on the authority of Wanda
So the option b is correct
And, the rest of the options would be incorrect
The we love books publishing company is this a publishing company, if so then how do I get to there web site
Answers
Answer:
www.welovebooks.net
Explanation:
You can simply type "We Love Books publishing company" in a search engine and it will show up as the second link. If not then you can just type the name of the website in the browser's search bar to take you straight to their web site which is www.welovebooks.net , They design and publish different books as well as magazines, product catalogues and corporate publications. The website also has a contact option so that you can contact them directly and make requests.
Valerie wants to buy a home in the suburbs, but she only has enough money to make a 17% down payment. The lender tells her that, until she saves enough to make at least a 20% down payment, she will have to wait to purchase. Evaluate if Valerie's lender is correct, and why/why not.
Answers
Answer:
Valerie's lender is wrong.
Explanation:
Valerie's lender is wrong. For most loans she should have the option of purchasing PMI if she can't make 20% down payment.
In circumstances in which there is a labor union, employees may have to
A. allow another person to negotiate their salary
B. increase production to reduce employer costs
C. learn new skills or face unemployment
D. relocate to find work that fits their skills
Answers
Answer:
The answer is A. allow another person to negotiate their salary.
Explanation:
Answer:
A
Explanation:
Just took the test
Baillie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment from Doane Machines at a cost of $253,000, its fair value. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. ) Related Information: Lease term 2 years (8 quarterly periods) Quarterly lease payments $18,000 at Jan. 1, 2021, and at Mar. 31, June 30, Sept. 30, and Dec. 31 thereafter Economic life of asset 5 years Interest rate charged by the lessor 8% Required: Prepare a lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December 31, 2021. December 31 is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter
Answers
This concludes the lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December 31, 2021.
Lease Amortization Schedule for Baillie Power is shown below.
Journal entries for Baillie Power:
01/01/21
Leased Equipment $237,372
Lease Obligation Payable $237,372
(To record the lease of high-tech electronic equipment from Courtney Leasing)
03/31/21
Lease Obligation Payable $14,638
Interest Expense $1,352
Cash $18,000
(To record the quarterly lease payment and interest expense)
12/31/21
Lease Obligation Payable $18,462
Interest Expense $1,784
Leased Equipment $3,926
(To record the quarterly lease payment, interest expense, and reduction in lease obligation)
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