CIPS Exam L4M2 Topic 1 Question 51 Discussion

Actual exam question for CIPS's L4M2 exam

Question #: 51
Topic #: 1

A food manufacturer wants to predict the pricing point for a new and innovative health drink. Which method of market research would be beneficial to receive the most accurate information?

AFocus groups

BConsumer data

CSales trends

DInternet searches

Show Suggested Answer

Suggested Answer: B

Consumer data provides specific, measurable insights into purchasing behavior, preferences, and willingness to pay. This is the most accurate method for setting a pricing strategy, as it uses real-world data rather than subjective opinions or generic trends. Reference: CIPS Level 4, Market Research Techniques.

by Corrie at Dec 06, 2024, 03:19 PM

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Elbert

5 days ago

I think focus groups would be the best method.

upvoted 0 times

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