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CIPS Exam L4M2 Topic 1 Question 51 Discussion

Actual exam question for CIPS's L4M2 exam
Question #: 51
Topic #: 1
[All L4M2 Questions]

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?

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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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Tamie
6 days ago
I agree with Elbert, focus groups can provide direct feedback.
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Vivienne
13 days ago
I think focus groups would be the way to go. You get direct feedback from consumers and can really dig into their preferences.
upvoted 0 times
Dalene
5 days ago
A: I agree, focus groups would provide valuable insights from consumers.
upvoted 0 times
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Elbert
19 days ago
I think focus groups would be the best method.
upvoted 0 times
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