Question

​​​​​​Discuss the expected values of the information to management and how the initial problem might be resolved, including the study’s limitations dealing with the topic: Students textbook purchasing habits

Answer 1

answer-

The information is very valuable to the management. The information helps the management to make strategic and business decisions so that company can achieve its objectives and goals.A marketer in the company wants to introduce new products then information related to market trends, customers needs, demographic, target market, competitor's information would help the marketer to successfully introduce the new product.

Information is also helps the management to make sales fore casting, budgeting, financial reporting etc which is very important for company's bottom line.

Management can solve the problem like observing the purchasing habits of the consumer by gathering the data from the market by doing surveys, interviews, focus groups, questionnaires etc which would give the insight of the consumer's purchasing habits.

Management can understand why customers shows different different habits during their purchase, what factors triggers their purchasing like quality, cost, feature or looks etc.

so, information has many and important values to management and solving any management problems.