(1) If you wanted to study how consumers decide which brand of perfume to buy, what research method would you use Explain.
Survey research can be used to study how consumers decide which brand of perfume to buy. It is preferred because it is possible to obtain information about the opinion, behavior and decisions of the consumers using surveys. Moreover, surveys are preferred over any other research method because; surveys are a form of primary data source. Existing secondary data sources cannot be used for this study in particular because understanding the consumer behavior in deciding between products varies from one product type to another and hence it requires designing a survey dedicated to study how consumers decide between perfume brands. Also, though observation and experimentation are also forms of primary data sources, they cannot effectively help study the consumer behavior in this study as both observation and experimentation are limited by size, moreover observation may not be able to provide accurate first hand views on the consumer behavior and experimentation might have the inability of not being able to achieve realism in lab. In addition, since surveys can be reached out to a large number of people, the analysis of survey results might be able to provide a clearer picture for it has advantage of large amount of data being collected and hence project the views of majority of people.
(2) Go to www.designyourowneyewear.com. This web site allows you to design your own eyewear. Play around with the web site and provide suggestions of how this web site can be used to gather marketing intelligence.
“Market intelligence' is the information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics”(1). The functionality of this website provides the website with a great potential...
References: 1. Retrieved from http://en.wikipedia.org/wiki/Market_intelligence
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