Briefly explain why marketers need marketing research in addition to competitive marketing intelligence
What will be an ideal response?
In addition to marketing intelligence information about general consumer, competitor, and marketplace happenings, marketers often need formal studies that provide customer and market insights for specific marketing situations and decisions. Marketing research gives marketers insights into customer motivations, purchase behavior, and satisfaction.
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If Jason used mostly open-ended questions in the survey to encourage people to answer in their own words, he is performing ________ research
A) focus group B) qualitative C) experiential D) causal E) exploratory
You own an annuity due contract that will pay you $3,000 per year for 12 years
You need money to pay back a loan in 5 years, and you are afraid if you get the annuity payments annually you will spend the money and not be able to pay back your loan. You decide to sell your annuity for a lump sum of cash to be paid to you five years from today. If the interest rate is 8%, what is the equivalent value of your 12-year annuity if paid in one lump sum five years from today? A) $22,008 B) $18,000 C) $38,880 D) $35,876