Market research can serve as an enabling tool for companies or entrepreneurs, whether by gaining a better understanding of competitors, consumers or the wider macro-environment. Such information can be gathered through a variety of qualitative and/or quantitative means. Qualitative research tools can include in-depth interviews and focus groups whilst quantitative research tools can refer to techniques such as surveys. Whilst market research can play an invaluable role in helping a firm succeed, there are certain points worth considering in relation to research.
When looking at successes attained in life, studies have found that those with average IQs often surpass their peers with higher IQs. Are IQ tests then not a good measure of success or is there something else at play in these situations? Following several years of research, it is now thought that emotional intelligence plays a crucial role in determining success and explains why those with lower IQs can potentially outperform their “more intelligent” peers.
Earlier this year, the UAE’s Ministry of Finance announced the introduction of an excise tax on products such as energy drinks, carbonated drinks and tobacco. The excise tax, also dubbed the “sin tax” came into effect on October 1, 2017. In light of this, Panaly takes a quick look at what the so-called “sin tax” entails along with some of its potential wider implications.