Question

Exploratory research would be used to gather data about the market potential for a new product.
a. True
b. False

Answer 1

B) False
Observational research is most often used.

Answer 2

Answer:

The correct answer is letter "B": False.

Explanation:

Market Research is the process a company uses to asses the viability of a new product or service. It reveals the details of a company's target market and what consumers think about the product before it is widely released. Companies can hire third-party providers or do the research themselves. Techniques include surveys, product testing, and focus groups.