QUESTION 4 of 10 : Which is NOT one of the five steps in conducting market research? a) Apply for governmen funding b) Identify problem c) Obtain data d) Choose the best solution

## Step 1<br />The problem is asking us to identify which of the given options is NOT one of the five steps in conducting market research. The five steps in conducting market research typically include:<br />1. Identifying the problem<br />2. Conducting exploratory research<br />3. Formulating a hypothesis<br />4. Collecting data<br />5. Analyzing data and drawing conclusions<br /><br />## Step 2<br />We compare these steps with the options given in the question. <br /><br />## Step 3<br />Option a) "Apply for government funding" is not typically a step in the market research process. While funding may be necessary for some research projects, it is not a standard step in the market research process.