MK 201 Chapter Notes - Chapter 7: Likert Scale, Mystery Shopping, Neuromarketing
Document Summary
Marketing research: process of defining a market problem and opportunity, systemically collecting and analyzing information and recommending actions: usually imperfect, research is done to reduce risk and thereby improve marketing decisions. Decision: a conscious choice from among two or more alternative ( among alternatives) Managers try to improve outcomes by using systematic approaches to decision making. This five-step approach focuses on marketing decisions but it provides a mental checklist for making both business and personal decisions. Step 1: defi(cid:374)e the proble(cid:373): key ele(cid:373)e(cid:374)ts are : set research objectives, measurable goals that decision maker seeks to achieve in conducting the marketing research. Identify possible marketing actions: measures of success: criteria or standards used in evaluating proposed solution to a problem. Step 2: develop the research plan: specifying the constraints on the research activity, constraint: restrictions placed on potential solutions to a problem, ex.
