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Interviews present unique advantages during information gathering processes. Firstly, they prove helpful to respondents who are unable to read or write. These respondents, therefore, manage to untangle complex topics, a situation which facilitates deeper probing into the topic, which is presented by the interviewee. As such, interviews produce higher response rates (Maren, 2006).
However, interviews are associated with a number of disadvantages. For instance, an inconsistent interviewing process may affect responses from the participants. Additionally, interviewing is a time consuming process. For this reason, a significant number of researchers and organizations avoid this method. Lastly, the process can be biased or be centered on closed questions (Kavanagh & Thite, 2011).
Data Collection Forms
Data collection forms have the advantage of providing detailed and up-to-date information. They can, therefore, be relied upon since mistakes are easy to recognize and correct. However, their disadvantages include the presentation of skewed responses, especially when the participants wish to appease the interviewer. Additionally, they prove inefficient in situations, where respondents with poor memory are involved in the study (Bondarouk et al, 2011)
Questionnaires present a number of advantages. The most important amongst them is the collection of responses in a standardized manner. Consequently, questionnaires are more objective than, say, interviews. The use of questionnaires quickens data gathering processes. However, this may take long as they ought to be designed carefully before being applied. Nevertheless, it is possible to collect information from numerous respondents. However, such a potential may not be realized as questionnaires presents low responses. The level of responses can be increased by having them delivered to a confined and informed group of respondents (Maren, 2006).
Questionnaires expose a study to a number of disadvantages. For instance, questionnaires are utilized after the occurrence of an event, and this means that a significant number of participants may have forgotten much of the details. Moreover, questionnaires are standardized, and, therefore, it is impossible to elaborate the answers being queried. Lastly, open-minded questions end up generating excessive data, much of which requires time to analyze. Extra time may be wasted in instances where responses are provided in a superficial manner (Kavanagh & Thite, 2011).
Step 1- Challenges we are facing
Step 2- Where we are
Market Share-As a company we have a market share of 17% at the moment.
Product functionality-Due to the fact that it’s a new product in the market, we are experiencing low sales.
Step 3- Our target
Market share- We are targeting an increase to 35% in the next 5 years.
Product functionality- We would like the product emerge the best in the market in the next 2 years.
Step 4- The gaps in between the current position and our target
Market share- the gap is 18% market share in the next 5 years.
Product functionality- the gap is enhancement of online buying processes, and increased advertisement programs.
Step 5- How to meet the gaps noted
To achieve this we need to, implement S.W.O.T analysis.
Embrace advanced technology.