MKTG202 Lecture Notes - Lecture 1: Global Marketing, Marketing Mix
11 Oct 2018
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Document Summary
The role of (cid:373)arketi(cid:374)g research & the research process. The systematic and objective process of generating information for aid in making marketing decisions: specify information to address market issues and support decisions, designing collecting information method, managing and implementing data collection, analysing results, communicating findings and implications. Track behaviour to see: where, when, what and in what combinations you purchase something to see when to place it in plain view or good spots. Value of marketing research: fulfils the (cid:373)arketi(cid:374)g (cid:373)a(cid:374)ager"s (cid:374)eed for k(cid:374)owledge of the (cid:373)arket, effective marketing management requires research, marketing research reduces the uncertainty of marketing strategies (long term and broad) and tactics (short term and specific) Marketing research applies to all stages of developing and implementing marketing strategy. Involves investigating potential opportunities: to identify attractive areas for company action. Analysing and selecting target markets: assists in determining which characteristics of market segments distinguish each segment from the overall market.
