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In what way has the internet transformed market research practices for businesses?
By simplifying survey distribution to a global audience
By facilitating the collection of information about consumers' interests and habits without explicit consent
By reducing the time required to gather qualitative data
By creating a formal requirement for consumer feedback
The correct answer is: By facilitating the collection of information about consumers' interests and habits without explicit consent
The transformation of market research practices due to the internet is significantly influenced by the ability to gather vast amounts of information about consumers more efficiently. Businesses now have access to an unprecedented volume of data regarding consumers' interests and habits, often mined from online activities, social media interactions, and browsing behaviors. This process allows companies to gain insights without needing explicit consent in every instance, as many consumers may not fully understand the extent of data collection practices. Companies can analyze trends, preferences, and behaviors by utilizing tools and analytics designed for online platforms. Other choices may reflect aspects of the internet's impact on market research, such as simplifying survey distribution or reducing the time for qualitative data collection, but they do not capture the essence of the extensive data gathering capabilities that the internet has introduced. The introduction of formal requirements for consumer feedback is less relevant in the context of voluntary online interactions where data is often collected passively. Thus, the ability to collect consumer information efficiently and extensively is a key transformation driven by the internet.