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The means by which a firm obtains information before introducing new products is

Commerce
WAEC 2023

The means by which a firm obtains information before introducing new products is

  • A. market segmentation
  • B. advertising
  • C. promotion
  • D. market research
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Correct Answer: Option D
Explanation

Market research is the study of consumers' demand by a firm in order to assist it in expanding its output and the marketing of its product. It is the systematic and objective search for and the analysis of information to guide managers in production and marketing.

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