Assessment of Skills and Knowledge(ASK) in Fundamental Marketing Concepts Practice Test

"What are some unfulfilled needs in our target market?" is an example of a:

1. Strategy-oriented decision problem

2. Discovery-oriented decision problem

3. Unit of analysis

4. Relevant variable

The correct answer is: Discovery-oriented decision problem

The question "What are some unfulfilled needs in our target market?" is an example of a discovery-oriented decision problem because it seeks to uncover insights and understand gaps within the market. Discovery-oriented decision problems are focused on exploring and identifying new information, needs, or opportunities that may exist. This type of question is valuable for marketers, as it directs attention towards understanding the consumer's perspective, which is essential for developing effective marketing strategies and products tailored to those needs. In contrast, strategy-oriented decision problems often focus on how to achieve specific objectives or goals based on knowledge already obtained. They are more about leveraging existing information to formulate actionable strategies rather than uncovering new insights. The terms "unit of analysis" and "relevant variable" refer to specific aspects of research design and data collection, and do not pertain directly to the goal of uncovering unfulfilled needs or insights within a market context. Understanding this distinction is key to recognizing the significance of discovery-oriented decision problems in marketing research.