Final answer:
Using online survey services is the least expensive primary research method for small businesses, offering a cost-effective way to reach a wide audience without significant financial investment compared to in-person surveys, focus groups, or hiring research firms.
Step-by-step explanation:
Among the primary research methods listed, using online survey services is likely the least expensive option for small businesses. Online surveys can be created and distributed quickly and at a low cost, reaching a wide audience without the need for physical materials or travel expenses. Conversely, conducting in-person surveys, conducting formal focus group interviews, and hiring marketing research firms typically involve more resources, both in terms of time and finances. In-person surveys and focus groups often require a physical space and may incur costs associated with travel and incentivizing participants. Hiring research firms, while providing professional expertise, is usually the most costly approach given the comprehensive nature of the services they offer.
Furthermore, online surveys are flexible and can be easily modified, offering real-time data collection and analysis. They also allow for collecting data from a broader demographic and geographic range, which can lead to more representative results.
However, small businesses must take care to design their surveys well to ensure valuable insights, and they should be aware of the limitations of self-reported data, as responses can be influenced by the manner in which questions are asked.