BUSI 2204 Lecture Notes - Lecture 5: American Marketing Association, Marketing Effectiveness, Social Media Marketing
14 Dec 2017
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Document Summary
The process of planning, collecting, and analyzing data relevant to a marketing decision. This can be a challenge as the marketplace is constantly changing and customers are not always clear (intentional/unintentional) about what their needs are and how they would like them satisfied. Marketing research allows us to better understand the relationship between marketing actions and customer needs. 3 functional roles marketing research plays: desrcriptive role- presenting factual statements. Ex: what are consumers attitudes toward a product and its advertising: diagnostic role- explaining relationships within data. Ex: impact on sales if packaging changes: predictive role- predicting results of a marketing decision (what if?). A good marketing program will attempt to balance these roles. Determine if it is a management decision (ex: what could be done about slow sales) or a research problem (what factors go into a customer"s decision). When this is established then a marketing research objective is developed, and will provide insight.
