0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the Scope of marketing research process?
According to American Marketing Association, “Marketing Research is the function that links the consumer, customer and public to the marketer through information-information used to identify and define marketing opportunities and problems, generate, refine and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.”Marketing Research is systematic problem analysis, model building and fact finding for the purpose of important decision making and control in the marketing of goods and services.Marketing Research is a well-planned, systematic process which implies that it needs planning at all the stages. It uses scientific method. It is an objective process as it attempts to provide accurate authentic information. Marketing Research is sometimes defined as the application of scientific method in the solution of marketing problems.Marketing Research plays a very significant role in identifying the needs of customers and meeting them in best possible way. The main task of Marketing Research is systematic gathering and analysis of information.Before we proceed further, it is essential to clarify the relationship and difference between Marketing Research and Marketing Information System (MIS). Whatever information are generated by Marketing Research from internal sources, external sources, marketing intelligence agencies-consist the part of MIS.MIS is a set of formalized procedures for generating, analyzing, storing and distributing information to marketing decision makers on an ongoing basis.While Marketing Research is done with a specific purpose in mind with information being generated when it is conducted, MIS information is generated continuously.MIS is continuous entity while Marketing Research is a ad-hoc system.While in Marketing Research information is for specific purpose, so it is not rigid; in MIS information is more rigid and structured.Marketing Research is essential for strategic market planning and decision making. It helps a firm in identifying what are the market opportunities and constraints, in developing and implementing market strategies, and in evaluating the effectiveness of marketing plans.Marketing Research is a growing and widely used business activity as the sellers need to know more about their final consumers but are generally widely separated from those consumers. Marketing Research is a necessary link between marketing decision makers and the markets in which they operate.Marketing Research includes various important principles for generating information which is useful to managers. These principles relate to the timeliness and importance of data, the significance of defining objectives cautiously and clearly, and the need to avoid conducting research to support decisions already made.
How do you determine customers needs?
A company can determine the needs of a customer by carrying out these measures to obtain information such as: survey feedback and suggestion box this will determine the customer needs and make the company aware of the customer needs and satisfy them.
What factors affect how a customers special needs are accommodated?
The decision on whether to accommodate these needs will be based on: The decision on whether to accommodate specific needs should be made based on the consideration of a few important factors such as: Past relationships with the customer, potential future business from the customer or from the contacts with whom they are associated, the costs associated with the request, the organisations capabilities and limitations, long and short term benefits to the organisation and the customer and the analysis of any associated risks.
How are decisions and the decision processes for business markets similar to those of consumer markets?
The question needs to be narrowed a bit. A distinction must be made to differentiate between the meaning of business decisions and decision processes. All business decisions are made through a formal or informal decision making process. Since the primary objective of a business is to maximize profitability, the decision process as it relates to that objective would be to assess the decision options and associated risks.The decisions and decision processes of consumers, on the other hand, can also be defined in economic term. I am assuming that the question relates to consumer purchase decisions based on product utility received by the consumer and price paid by the consumer. The consumer would normally go through a purchase evaluation process to determine if the product price justifies the utility that the consumer will enjoy.In this context, there is some similarity between business and consumer market decision making processes in terms of the economic benefit to be gained by the decision makers: profit maximization for a business and product utility maximization for a consumer. Both types of decisions involve risks and opportunity costs for both business and consumers.
What does marketing entail?
refer to the satisfying the needs of different people and organisation.
What are the information needs of decision makers?
all of it
What information is available when the decision maker needs it?
Accessible
What information is arranged to suit the needs and requirements of the decision maker?
organized information
What is arranged to suit the needs and requirements of the decision maker?
organized information
How many types of information system in business organization?
Information systems differ in their business needs. Also depending upon different levels in organization information systems differ. Three major information systems areTransaction processing systemsManagement information systemsDecision support systemsThe information needs are different at different organizational levels. Accordingly the information can be categorized as: strategic information, managerial information and operational information.Strategic information is the information needed by top most management for decision making. For example the trends in revenues earned by the organization are required by the top management for setting the policies of the organization. This information is not required by the lower levels in the organization. The information systems that provide these kinds of information are known as Decision Support Systems.
When Dale made the decision to sell his stock in copper he was using a report generated by his decision support information system. How can Dale be sure that his report gives him relevant information?
dale needs to configure the information system to produce specific types of data that are relevant to his business needs
When Dale made the decision to sell his stock in copper, he was using a report generated by his decision support information system . How can Dale be sure that his report gives him relevant information?
dale needs to configure the information system to produce specific types of data that are relevant to his business needs
What is the importance of executive information systems?
An executive information system refers to a type of management information system that aids in decision-making needs. It is an important tool in financial analysis, manufacturing and marketing.
Information is arranged to suit the needs and requirements of the decision maker?
"Organized Information" From the textbook "Discovering Computers 2011 Living in a Digital World"
How are the graphs different?
Needs more information... graphs of what?
Why manager at different levels of the organization have different information needs?
Managers at different levels of the organization have different information needs to better manage the tasks that are in front of them. Low-level managers, for example, do not need information about financial specifics of a company, because it is not their job to manage finances.
I am a beginner skier - which ski pants do you recommend as an economical investment?
Buying ski apparel is a personal decision based on your needs and budget. This website : http://www.abc-of-skiing.com/buying-guide/buyingpants.asp is full of good information on how to make the best decision for your needs.
