Describe guidelines that are recommended by David Arnold for data gathering and explain their importance in marketing research
What will be an ideal response?
The guidelines for data gathering can be explained by the following steps: 1. Use multiple indicators rather than a single measure. This approach will decrease the level of uncertainty for decision makers. This technique, known as triangulation, is equally useful in global market research. 2. Individual companies should develop customized indicators specific to the industry, product market, or business model. Such indicators should leverage a company's previous experience in global markets. 3 . Always conduct comparative assessments in multiple markets. Do not assess a particular market in isolation. Comparative assessment enables management to develop a "portfolio" approach in which alternative priorities and scenarios can be developed. 4. Observations of purchasing patterns and other behavior should be weighted more heavily than reports or opinions regarding purchase intention or price sensitivity. Particularly in developing markets, it is difficult to accurately survey consumer perceptions.
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A purchase order is sent from a company's
a. requesting department to the supplier. b. treasurer to the supplier. c. requesting department to its accounting department. d. purchasing department to the supplier.
Daisy, the owner of a homemade chocolate shop, decides to switch from regular packaging material to recyclable packaging material. She also decides to change the lights in her store and install LED lights, which are more energy efficient. In the given scenario, Daisy has adopted _____.
A. flow-shop processes B. green practices C. the Six Sigma principle D. poka-yokes
When entrepreneurs believe that their accomplishments and setbacks are within their own control and influence, they are exhibiting
a. persistent problem solving. b. an internal locus of control. c. an external locus of control. d. opportunity orientation.
The second major liability of savings and loans is borrowings
Indicate whether the statement is true or false