1- Explain why it\'s important to carefully define the problem or opportunity a
ID: 1109381 • Letter: 1
Question
1- Explain why it's important to carefully define the problem or opportunity a marketing research study is designed to investigate 2- Are small business owners at a disadvantage if they lack the marketing research resources large companies have? Why or why not? 3- What drawbacks do you see associated with conducting surveys online? Are privacy issues greater with online surveys than with other forms ofadministering surveys, such as phone, face-to-face, or mail? 4- In your opinion, what are the advantages and disadvantages of advertising on the radio, in magazines, on television, through direct marketing, billboards, cellphones and on the Internet?Explanation / Answer
1. It is important to clearly define everything in the market research study because If the problems and the opportunities of the firm are not clear then it would create problems during the research. Problem defining is the focus of the research and if the focus is not clear, things will not work properly.
2. small business can have many benefits from a proper market research, for example finding hidden niches,building customer loyalty and identifying more business opportunities with existing customers. If the small businesses don't do market research they will not be able to enjoy all these benefits and therefore won't be able to make more profits.
3.Conducting surveys online has many disadvantages, like, Not all people have internet connections,therefore, online surveys can only be taken by a limited number of people. Also, there are privacy issues with online surveys. Sometimes the surveyer may use your personal information without your permission which can be inconvenient to you.
4. Advertising on radio, magazines and television is a good option as people read magazines while travelling and in their free time, they listen to radio and watch television. So, advertising through these is the most convenient and successful way to promote your product. Marketing through bill boards, cellphone and internet may not be that successful because people sometimes do not pay attention ti the billboards and generally ignores the messages send by companies on their cell phone. Therefore, these methods are not that successful for promoting a product.
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