The most interesting thing that I read out of chapter 10 is the comparison of major survey research techniques. I have actually participate in market research before in a previous class so a lot of the information I knew already, however, I did not see how they rated/ranked up. For example, door to door respondent cooperation was rated excellent; whenever someone comes to my door, I shut them out immediately, perhaps I am more rude than most but it honestly surprised me.
I found everything cut in dry in this chapter but I kept changing the terms of the pricing strategy intermittently so while it was not necessarily confusing, it was something that I kept getting hooked up on.
Questions I'd like to ask the author are is there exceptions to the product life cycle depending on the business and/or products/services offered?
The author touched on the pricing in the social media age but with new things evolving day by day, how does an entrepreneur stay current on the models? How often are the models updated or evaluated?
It was cited that four major reasons that entrepreneurs do not carry out market research are complexity, belief in support, cost, belief of irrelevant data but I would add other reasons. I would say lack of knowledge or confidence in moving forward with market research. Heck, that is the biggest problem I have in this class, while I'm sure many want to be an entrepreneur, some do not have the people skills to handle it themselves or as noted in the four, funds to have someone else handle. Also, could they be bogged down in the day to day minute details that they let it fall by the waist? Just a thought.
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