Discuss the iceberg principle.
What will be an ideal response?
The iceberg principle holds that decision makers are aware of only 10 percent of the true problem. Frequently the perceived problem is actually a symptom that is some type of measurable market performance factor, while 90 percent of the problem is not visible to decision makers. For example, the problem may be defined as loss of market share when in fact the problem is ineffective advertising or a poorly trained sales force. The real problems are below the waterline of observation. If the submerged portions of the problem are omitted from the problem definition and later from the research design, then decisions based on the research may be incorrect. Referring to the iceberg principle helps researchers distinguish between the symptoms and the causes.
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Answer the following statement true (T) or false (F)