What is the best practice for a small business when considering whether to conduct market research?
◻ It is a cost-effective replacement for experience and careful testing of innovations.
◻ Before committing to research, an entrepreneur should always estimate the projected cost of marketing research and compare it with the benefits expected.
◻ An entrepreneur should use as many research techniques as possible, even ones he or she is not familiar with.
◻ Tertiary data, the combination of primary and secondary data, is the easiest for entrepreneurs to interpret.
◻ It is recommended that a small business conduct research without the assistance of an expert, as the cost of hiring such help is never worth it.