Discuss the different ways which can be adopted by small manufacturing firms to conduct market research
What will be an ideal response?
The small firms can adopt the following ways to conduct market research:
(1 ) They can engage students or professors to design and carry out projects. (2 ) They can collect considerable information at very little cost by examining competitors' Web sites, monitoring chat rooms, and accessing published data. (3 ) The owners of small business firms can routinely visit competitors to learn about changes they have made. (4 ) By tapping into marketing partner expertise.
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At a 10 percent discount rate, a project that generates $1,000,000 a year for three years would have a net present value of $2,486,852
Indicate whether the statement is true or false
Which of the following is a characteristic of effective teams?
A) Groupthink is encouraged among team members. B) Decision making is done through quick votes. C) Decision making is done by the team leader. D) Conflict is managed by focusing on the people, not the issues. E) Disagreements are discussed in the interest of task accomplishment.