FOUNDATIONS OF BUSINESS
FOUNDATIONS OF BUSINESS
6th Edition
ISBN: 9780357099292
Author: Pride
Publisher: CENGAGE L
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Chapter 11, Problem 12DQ
Summary Introduction

To determine: Whether marketing information is important to small firms as it is to larger firms.

Introduction: Marketing information is the last concentrate got from the dreary assignments including information accumulations, arranging, investigation, examination, recreation and evaluation.

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In your expert opinion, what do you think is the most effective and efficient way for small business owners to promote and market their products/services? Why? How have you seen the use of referrals and word of mouth advertising work to the benefit of a small business owner?  Please would you kindly provide some examples. How have these methods worked in reverse (to the disadvantage of the owner but possibly benefit the competition)?
In your Expert Opinion, How do the risks differ when you start your business using a purely product development process versus a purely customer development process approach? What are the elements that go into a customer profile and why is each one useful? What are some of the ways that you could use secondary research to better understand the various segments of your market and to develop promotional materials?
What marketing challenges might arise should a major health care provider stop offering a product or service that is socially popular but economically unprofitable? What marketing elements should be considered before a health care provider eliminates such a product or service?
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