As a small business consultant, you recommend to your clients that they use no-cost methods of observation to gather market research. Which of the following are you most likely to recommend your clients do?
A)informally interview existing and potential customers and ask them what they think
B)monitor competitors' media
C)expansively evaluate how many and what kind of customers the competition has
D)hire additional staff to observe extensively
E)socialize with suppliers

Question

Quizplus · Accepted Answer

Option A recommends that business owners informally interview existing and potential customers to gather their thoughts and opinions. This method is cost-effective and helps the business owner understand what their customers want and need. Option B suggests monitoring competitors' media, which is useful but may not be as effective as directly gathering feedback from customers. Option C recommends evaluating the competition's customers, which can be expensive and time-consuming. Option D suggests hiring additional staff, which may not be a feasible option for small businesses. Option E suggests socializing with suppliers, which may not provide the necessary information for market research. Therefore, option A is the best choice for small businesses looking to gather market research through no-cost methods of observation.

As a Small Business Consultant, You Recommend to Your Clients