When collecting marketing information the entrepreneur should:
A) not include general environmental information.
B) start with narrow-based data and work down to a more broader scope of information.
C) identify competitors.
D) not aim to define a specific market.

Question

When collecting marketing information the entrepreneur should: 
A) not include general environmental information.
B) start with narrow-based data and work down to a more broader scope of information.
C) identify competitors.
D) not aim to define a specific market.

Quizplus · Accepted Answer

Identifying competitors is a crucial aspect of collecting marketing information as it helps the entrepreneur understand the market landscape, potential challenges and opportunities, and make informed decisions about strategy and positioning. Excluding general environmental information may result in overlooking relevant trends or factors that could affect the business. Starting with narrow-based data and working towards a broader scope can help in refining the research question and avoiding information overload. Defining a specific market is also important as it helps in tailoring the marketing mix and messaging to a specific audience.

When Collecting Marketing Information the Entrepreneur Should