The first marketing research priority for a new business is to determine:Group of answer choicesadvertising effectiveness.consumer lifestyle and trends.customer buying behaviour.market potential.
Question
The first marketing research priority for a new business is to determine:Group of answer choicesadvertising effectiveness.consumer lifestyle and trends.customer buying behaviour.market potential.
Solution
The first marketing research priority for a new business is to determine the market potential. This is crucial as it helps the business understand the size of the market, the competition, and the needs and wants of the customers in that market. Understanding the market potential will guide the business in making strategic decisions such as product development, pricing, distribution, and promotion. Once the market potential is understood, the business can then focus on understanding customer buying behavior, consumer lifestyle and trends, and advertising effectiveness.
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