Abstract
This paper investigates on the types of information used by managers and entrepreneurs, so as to conduct market research and to evaluate market potential.The authors examine five major sets of variables to understand their impact on firms’ information market search effort. Empirical results based on a survey of Greek enterprises provide support for these factors in predicting firms’ market information acquisition. Findings on structural and administrative characteristics of the firms support the notion that companies engaged in greater market information search and evaluation of market potential tend to develop and implement complex penetration and development market strategies, in order to maximize their business performance in the examined market.
Highlights
Entrepreneurship has been defined as the process of creative enhancement and exploitation of opportunities emerging in a market, in the context of the company’s competitive advantage development [1]
The “Compare Means” table provided by SPSS, indicates the mean of each variable per cluster and in total. Combining this information we can determine the status of the two clusters and mine valuable information about the market information acquisition profile of companies, defining their market information acquisition behavior
We find that almost every enterprise, regardless its market information acquisition behaviour, tend to obtain information about the competitive products of the market
Summary
Entrepreneurship has been defined as the process of creative enhancement and exploitation of opportunities emerging in a market, in the context of the company’s competitive advantage development [1]. The process followed so as to study and evaluate the market potential, is based on market information acquisition; a process considered being highly important for the success of any business venture. It includes the Myropi Garri and Nikolaos Konstantopoulos / Procedia - Social and Behavioral Sciences 73 (2013) 643 – 651 use of logic and objectivity in the systematic planning, mining, analysis and presentation of relevant information and data regarding the under examination market
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