Refer to the Scenario Below to Answer the Following Questions

question 93

Essay

Refer to the scenario below to answer the following questions.
Jason Tan, owner of Initial Cleaning Services, began his enterprise in 2001. Jason's primary focus had been on office cleaning for large corporations. But in recent months Jason has seen a decline in demand for office cleaning. Surprisingly, the competitive environment appears relatively stable with no new competitors. However, Jason understands that office cleaning is a high-frequency service that is usually performed daily; therefore, competitors must be doing something to attract his customers. Building a competitive advantage seems to be the only option to offset competition. But as Jason pondered his dilemma, he realized that, prior to building his competitive advantage, he needed to better understand how customers assess service quality and what they are looking for in a superior cleaning service. Jason developed a research plan. First, he gathered competitor information-primarily through pamphlets, but also from a few phone calls-to find out exactly what competitors offer in their cleaning packages. In addition, Jason obtained from the Registrar of Companies an updated list of local corporations to which he would send a short survey. Though the list of corporations contained 141 local company names, Jason chose to survey 75 of them. To better understand customer service expectations between both small and large corporations, Jason divided his surveys into two categories. The survey questions were designed to extract specific data from respondents with regard to service quality expectations in correlation to service frequency and price. Jason awaited the results. Though his primary focus had been on large corporations, he was flexible at this point to aim his efforts differently if needed.
-In what way(s)did Jason's project require exploratory research?

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Definitions:

Recessionary Gap

A situation in which the real GDP is lower than the potential GDP, leading to unemployment and underutilized resources.

Supply Shock

A supply shock is an unexpected event that suddenly changes the supply of a product or commodity, leading to sudden changes in its price.

Recessionary Gap

A situation where the real Gross Domestic Product (GDP) is lower than the potential GDP, indicating underperformance in the economy.

Aggregate Demand Curve

A graphical representation of the relationship between the total demand for goods and services in an economy at different price levels.