MR Processing

Organizational Objectives

The hierarchy of goals within an organization consisting of mission, business objectives, and marketing objectives.

Mission

An overarching, broad, and philosophical expression of an organization’s identity that serves as a guiding compass and dictates business objectives.

Business Objective

A concrete goal set by an organization to accomplish its mission; it guides marketing objectives.

Marketing Objective

A value-based goal set to accomplish a business objective, typically focused on the 4Ps and STP.

Top-Down Process (Organizational Objectives)

A hierarchical flow where the mission dictates business objectives, which then dictate marketing objectives.

4Ps (Marketing Mix)

Product, Price, Place, and Promotion — controllable elements used to achieve marketing objectives.

STP

Segmentation, Targeting, and Positioning — the process of identifying customer groups, selecting which to serve, and positioning the product effectively.

Business Problem

A situation in which business objectives are not achieved.

Marketing Problem

A business problem mapped to marketing objectives, occurring when customers experience conflict in the value exchange process.

Value Exchange Conflict

A situation where customers feel that the benefits received do not match what they give up (e.g., money, time, effort).

Research Methodology

A framework that specifies the type of hypothesis, data, research approach, and analysis used to test a research question.

Qualitative Research

Research that explores “why” questions using non-numerical, descriptive data such as words, aesthetics, and moods, analyzed interpretively.

Quantitative Research

Research that examines “how many” or “how much” questions using numerical data analyzed statistically.

Type of Hypothesis (Qualitative)

Exploratory questions focused on understanding why something occurs.

Type of Hypothesis (Quantitative)

Measurable questions focused on determining how many or how much.

Qualitative Data

Non-numerical, descriptive data capturing qualities such as opinions, feelings, and themes.

Quantitative Data

Numerical data capturing measurable traits or quantities.

Qualitative Research Approach

Observation and interpretation of non-numerical data.

Quantitative Research Approach

Measurement and hypothesis testing using numerical data.

Interpretative Analysis

An analysis method used in qualitative research to identify meanings and themes.

Statistical Analysis

An analysis method used in quantitative research to test hypotheses using numerical data