Define and discuss problem identification and problem-solving research. Discuss how the two types of research are related. Develop an example showing the relationship between these two types of research
What will be an ideal response?
Problem identification research is undertaken to help identify problems that are perhaps not apparent on the surface and yet exist or are likely to exist in the future. Problem-solving research is undertaken to arrive at a solution.
Problem identification research and problem-solving research go hand in hand because once a problem or opportunity has been identified, problem-solving research can be undertaken. A given marketing research project may combine both types of research. This was illustrated in the chapter opening Boeing example. The consumer surveys identified potential demand for smaller planes (problem identification). Subsequent research led to the introduction of the new version of the Boeing 737, which caters to the 100 to 215 seat market (problem solving). The student should supply his/her own similar examples.
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Which of the following descriptions of life insurance policy settlement options is CORRECT?
A) Under an installment refund option, if the primary beneficiary dies, payments of the same amount continue to the secondary beneficiary until all installments to both beneficiaries equal the original amount of proceeds. B) Glenn chooses a life-income-only option, and Jeri chooses a life-income-with-cash-refund option. Jeri's income is based on the higher rate per $1,000 of proceeds. C) Under a life-income-only option, if a primary beneficiary dies after receiving income payments for only 3 months, the balance of the proceeds will be paid in a lump sum to the secondary beneficiary. D) Today, most life insurance proceeds are not paid out as lump sums.
In a ________ integer model, all decision variables have integer solution values
A) total B) 0-1 C) mixed D) all of the above