Consumer understanding in the age of entrepreneurship

Date of publication: April 13, 2016

Abstract:

Consumer research (CR) is a premium product offering which often represents an unaffordable luxury for small companies. At first glance, the notion that CR is expensive may sound ridiculous; but taking into account that by far the greatest consumers of CR are large companies, it is perhaps unsurprising then that CR focuses largely on the needs, interests, and intentions of large companies. Small businesses, entrepreneurs, and start-ups are generally not able to afford CR agencies. This is unfortunate, given that the process of understanding consumer behaviour in relation to a given product or service is fundamental to the success of small companies which in turn are vital for reducing inequality and strengthening economic prosperity, innovation, and competitiveness. We identify three key issues that need to be addressed in order to be able to offer a mass-consumer online research service.

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