Question

99) You are starting a market research company with a single business partner and are planning the hardware and software needs for the two of you. Which factors should play into your decision of how much to spend on these investments?

Short Answer:

Answer 1

When deciding how much to spend on hardware and software investments for a market research company, factors such as budget, business needs, scalability, quality and reliability, and competitive advantage should be considered.

Step-by-step explanation:

When deciding how much to spend on hardware and software investments for your market research company, there are several factors to consider:

1. Your budget: Determine how much you can afford to invest without jeopardizing your financial stability.
2. Business needs: Assess the specific hardware and software requirements for your market research activities.
3. Scalability: Consider the future growth of your company and whether the chosen hardware and software can accommodate increasing demands.
4. Quality and reliability: Invest in reliable and high-quality hardware and software to ensure smooth operations and accurate data collection.
5. Competitive advantage: Research the market and identify the technology tools that can give you a competitive edge.

By taking these factors into account, you can make an informed decision on how much to invest in hardware and software for your market research company.