Question

After a bankruptcy, SwissAir was able to regroup and wanted to resume flying if it could regain at least 75 percent of its lost customers. It decided to allocate $50,000 to determine the likelihood that its former customers would fly on the airline again and find methods requiring little or no money that could be used to increase that probability. This description represents which step in the marketing research approach?

Answer 1

Answer: The description represents the step called Defining The Problem.

Explanation: Defining the problem in marketing is the first step in marketing research. This is probably the most important step because it is where the foundation for the research is laid.

What this step entails is that the researcher or the company carrying out the marketing research will have to first define and decide what problem they are actually trying to solve.

What is usually done in this step is the establishment of the research objectives and the

Development of questions that will help in defining the problems to be solved.

As we can see from the scenario given above, SwissAir is in the problem definition stage because they're trying to determine the likelihood of customers flying with them again, which is the problem they have.

Answer 2

Answer:

Identification and Defining the problem

Explanation:

Identification and defining the problem is the first stage of a market research process where an organization investigates identifies the problem or challenge confronting it and investigates the causes of this problem and a

It can can be a costly and time consuming process as a lot of research might be involved but it helps greatly towards formulating an effective objective

and developing  an effective safeguard or recovery strategy.