Meeting Customer Needs

• Minimizing Biases


  Randomized sampling, blinded measures, standardized instruments, multiple data sources, data cleaning, blinding, pre-testing, expert review.
• Using ICT in Market Research


  ICT enables efficient data collection, advanced analytics, data visualization, survey management, mobile research, social media mining, and online communities, resulting in increased efficiency, improved accuracy, and enhanced insights, with cost savings.
• Limitations of ICT in Market Research


  Limited sampling, self-selection bias, data quality, technology gaps, ethical concerns, dependence on technology, security concerns, limited depth.
• How Competition Affects the Market


  Innovation, quality improvement, price reduction, increased choice, financial efficiency, price wars, capacity over-expansion, resource waste, market fragmentation, brand dilution.