Marketing ResearchAnswer the following questions:1.What benefit would be gained by utilizing linear...

Question

Marketing ResearchAnswer the following questions:1.What benefit would be gained by utilizing linear programming (LP) for marketing research?2.Discuss and provide a basic example of how LP can be used for marketing and/or consumer research.Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.

Ishwar · Accepted Answer

Answer: 1 
Market research is the basic tactics for company in order to study behaviour and attitude towards the company and companies’ product. That consider all aspects of the business such as profile, loss, development etc. the market research determine market current and new requirement of product.  The market research pursue to understand best possible way to connect with consumer and require service. (Ghodsypour, S., & O'Brien, C,2015)  The consumer also needed to buy best product as per availability in market.  In order to obtain best possible outcome which helpful for business organization and consumer as well, the linear programming method useful for market research.  How to obtain maximum profit under provided circumstances can obtained through linear programming method.  The linear programming is most suitable for solving complex problems in market research.  It helps to provide simple marketing methodology and suggest productive management of the organization which assure better outcomes.  The decision making is the critical stage of the market research, the linear programming provide suggestion to take right decision as per situation of market.

Marketing Research Answer the following questions: 1.What benefit would be gained by utilizing linear programming (LP) for marketing research? 2.Discuss and provide a basic example of how LP can be...

Marketing Research

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment