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Four P's of Marketing/Borderless & Controls/ Collecting Data

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Marketing research does not have to be expensive. What are some other inexpensive methods for collecting customer data about your product/service?

Based on the 4P's of marketing, which P do you think is most important and why?

What challenges and/or risks are associated with the concept of companies going borderless? Do you think control is lost?

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Solution Summary

This solution discusses inexpensive methods for collecting customer data. It also addresses which of the four Ps are most important and why.
It identifies challenges and risks associated with companies going borderless and if control is lost. Helpful link is included.

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Marketing research does not have to be expensive. What are some other inexpensive methods for collecting customer data about your product/service?

A company can gather market research inexpensively in many ways. The cheapest way to gather information is through observing customer behavior. This can be done visually, but it can also be done by looking at the company's own records and files, analyzing sales records, complaints, and comments to look for patterns. This can identify where customers are predominantly located and which customers purchase more, and method of payment. This can give more information about customers. Employees who interact with customers often are able to provide additional information about customers, their likes, dislikes, and ...

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Sally Baldwin, Ed.D
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  • MSS, United States Sports Academy
  • Ed.D, Boise State University
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