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1. It is essential for Setel to achieve critical mass in terms of its customer adoption for it to sustain its business amidst the increasing number of competitors in this digital payment platform. As is with any other companies out there, Setel can refer to various consumer behavior models in trying to predict the decisions that consumers make in the marketplace.
a) How should Setel apply online market research to identify market opportunities for its business? Your explanation should include data collection methods and data analysis tools that are utilized by online market research.
i) Data collection methods:
ii) Data analysis tools:
b) How should Setel utilize online marketing and advertising tools to optimize its customer adoption? Your explanation should highlight the MOST suitable mode of online marketing and advertising tools based on Setel's business operations.
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