This original and exciting new text examines the crucial role of innovation and entrepreneurship in achieving growth and ongoing success in the small business sector.
The aims of this chapter are to assist the reader to:
- become aware of the benefits of using market information to assist decision-making
- comprehend the components which constitute the market research process
- be able to assess the various sources of secondary information
- comprehend alternative primary information generation methodologies
- understand the concepts of identifying different customer needs through market segmentation
- become aware of the role of intuition in the opportunity discovery process utilised by entrepreneurs.
Why, How and What
Small firms are not renowned for spending time undertaking extensive research studies before launching a new business proposition. Many entrepreneurs decide no additional information is required because they have an intuitive faith in the validity of their ideas. Others hold the opinion that research is an expense they cannot afford or ...