Based on your reading of the following, which stage of the marketing research process is in operation?

The company Bonobo had great success with its stuffed toy monkeys sold in card shops, but suddenly sales were dropping off in one of its sales regions in the South. The marketing director had been tasked by the company president to find out what happened. She discovered that a local competitor had begun selling a similar stuffed toy, also a monkey, made from cheaper material, although both monkeys looked remarkably similar. The knock-off money was selling for $7 less than Bonobo's monkey. The marketing director explained to the president that Bonobo had been outpriced by a local competitor.

create an action plan

develop a plan for research

interpret results of research

create objectives for research

Question

Jayce Boyle

Business

28 September, 15:45

Based on your reading of the following, which stage of the marketing research process is in operation?

The company Bonobo had great success with its stuffed toy monkeys sold in card shops, but suddenly sales were dropping off in one of its sales regions in the South. The marketing director had been tasked by the company president to find out what happened. She discovered that a local competitor had begun selling a similar stuffed toy, also a monkey, made from cheaper material, although both monkeys looked remarkably similar. The knock-off money was selling for $7 less than Bonobo's monkey. The marketing director explained to the president that Bonobo had been outpriced by a local competitor.

create an action plan

develop a plan for research

interpret results of research

create objectives for research

+1

Answers (1)

Know the Answer?

Kaydence · Answer 1

Create an action plan

Explanation:

According to the situation, the company is in the phase of developing an action plan to counter the situation at hand.

They are only done with developing research plan and and creating objectives because that is how they gathered the data on the local competitor who is selling the same toy, but cheaper.

Now, it is time for them to develop an action plan. Once they have implemented the plan, they can go ahead and analyse and interpret the results of the study.