Answer:-
When a company has limited resources, one of the methods companies use is the social media as a marketing research tool. In the current social media trends, companies can conduct marketing research via social media where they get to conduct surveys and gather feedback from the online users. It’s a cheap method and it can help a firm reach to a wide market. The other method similar to social media is the use of online surveys. These are cheap methods, a firm can utilize the use of survey companies that offer quite minimal fees and get feedback from the market. Another method can be the use of email and other electronic methods similar to this which are less costly. The firm, for instance, can send emails to their potential customers and get feedback from them. They can also rely on reviews from customers which they can obtain through the web. One other method is to conduct a random survey and interviewing a select group of customers from the market. Companies also utilize the use of customer feedback and responses in their services.
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