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Definition of Marketing Research
Organizations’ formal communication link with environment. To gather, analyze, and report information that may be used to solve a marketing problem.
Purpose for Marketing Research
To gather data to use in developing, implementing, and monitoring a firm’s marketing plan. Can be used to make good business decisions.
History of Marketing Research
NW Alyer was the first marketing company, founded in 1879, that dealt with machinery/agriculture. MR became popular after WW2
Who uses Marketing Research
Producers of products/services, advertising agencies, and marketing research companies.
Price, product, promotion, publicity.
What are the 4 P’s!
Planned Change
Looking forward towards things and making voluntary changes. (Proactive).
Unplanned Change
Responding to change in the marketing environment (Reactive)
Discovery Oriented Decision Problem
What is going on? Why is it going on? Questions used by managers to make important decisions, the research itself does not lead to decisions.
Strategy oriented decision problem
The way information WILL be used to help make decisions and have logical reasons for each piece of research (PLANNED).
Normal thinking
Routine way of looking at business