Consumer behavior research can be very expensive and time consuming. How do companies decide/justify spending money on research? Many large companies that regularly conduct

Topic: Using Consumer Behavior Principles to Develop a Consumer Behavior Exploratory Research Survey

Background

Consumer behavior research can be very expensive and time consuming. How do companies decide/justify spending money on research? Many large companies that regularly conduct research begin with a very small exploratory project that is often done with the expertise that is already staffed in the Marketing Department. Once this is done and if it’s found you need a national sample then, you can pitch the CFO for the money needed to go forward. You have been put in the position of conducting the exploratory research to find if you need to hire an expensive outside Consumer Behavior Research firm to take the research to the next level. You have been assigned a brand/product item for your first consumer behavior research project (brand assigned at random by Professor). Complete sections one and three based on secondary data collected through outside research.