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Decision Making
Learning Objectives 1. To review the marketing concept and the marketing mix. 2. To comprehend the marketing environment within which managers must make decisions. 3. To define marketing research. 4. To understand the importance of marketing research in shaping marketing decisions. 5. To learn when marketing research should and should not be conducted.
Marketing: The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services.
The Marketing Concept (1) a consumer orientation
Nature of Marketing
Learning Objectives
To comprehend the marketing environment.
The External Marketing Environment Marketing research is the key to understanding the environment
provides information for altering marketing mix identifies new opportunities
Learning Objectives
To define marketing research.
Marketing Research Defined The planning, collection, and analysis of data relevant to market decision making and communication of the results of this analysis to management. The Importance of Marketing Research to Management
Learning Objectives
To understand the importance of marketing research.
Learning Objectives
To understand the importance of marketing research.
Applied Research versus Basic Research Applied research To better understand the market. Basic research To expand the frontiers of knowledge.
Learning Objectives
To learn when marketing research should and should not be conducted.
In a number of situations it is best not to conduct market research. A Lack of Resources lack of funds insufficient funds to implement decisions from research Research Results Would Not Be Useful
Learning Objectives
To learn when marketing research should and should not be conducted.
Learning Objectives
To learn when marketing research should and should not be conducted.
When Managers Cannot Agree on What They Need to Know to Make a Decision The wrong phenomena might be studied
When Decision-Making Already Exists Further research may be redundant and costly When the Costs of Conducting Research Outweigh the Benefits Potential new products with large profit margins may have a greater potential
Advantages of Internet Surveys Rapid Development, Real Time Reporting Dramatically Reduced Costs
Readily Personalized
Ease and Convenience Encourage Respondent Participation Contact the Hard-to-Reach
Other Uses of the Internet by Marketing Researchers Replacement of libraries and printed materials Distribution of requests for proposals and proposals Collaboration between the client and the research supplier Data management and on-line analysis Oral presentations of marketing surveys
SUMMARY
Marketing Concept External Marketing Environment Marketing Research Defined Proactive Role of Marketing Research Applied Research vs Basic Research When Not To Conduct Research Advantages of Internet Surveys
The End