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Discuss the Guidelines Submitted by David Arnold Pertaining to the Importance

question 53

Essay

Discuss the guidelines submitted by David Arnold pertaining to the importance of data gathering for market research.Indicate the rationale behind each guideline.


Definitions:

Market

A market is a place or system where buyers and sellers interact to exchange goods, services, or information, often determined by supply and demand.

Transactive Mode

A method of interaction where knowledge and information are exchanged among individuals through a process of communication and transaction.

Traditional Mode

Conventional or long-established ways of operating or doing something.

Plan

A detailed proposal for doing or achieving something, often outlining goals, strategies, and actions to be taken.

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