What type of research is often a preliminary step before launching a product or service?

What type of research is often a preliminary step before launching a product or service?

• A. Exploratory research
• B. Quantitative research
• C. Secondary research
• D. Qualitative research

Answer: (A)

Exploratory research serves as a preliminary step before launching a product or service because it is designed to gather insights and develop a deeper understanding of a problem or opportunity. This type of research is often unstructured and aims to identify issues that need to be addressed, gauge potential customer needs, and explore various aspects of the market. It allows businesses to formulate hypotheses and generate ideas that can guide the development and marketing strategy for new products or services. Conducting exploratory research can include methods such as focus groups, interviews, and observations, which help businesses gather qualitative data that can aid in decision-making. By exploring different facets of the market and consumer behavior, companies can mitigate risks associated with product launches and tailor their offerings to better meet the demands of the target audience.

Exploratory research serves as a preliminary step before launching a product or service because it is designed to gather insights and develop a deeper understanding of a problem or opportunity. This type of research is often unstructured and aims to identify issues that need to be addressed, gauge potential customer needs, and explore various aspects of the market. It allows businesses to formulate hypotheses and generate ideas that can guide the development and marketing strategy for new products or services.

Conducting exploratory research can include methods such as focus groups, interviews, and observations, which help businesses gather qualitative data that can aid in decision-making. By exploring different facets of the market and consumer behavior, companies can mitigate risks associated with product launches and tailor their offerings to better meet the demands of the target audience.