MGMT 2402 Lecture Notes - Lecture 22: Target Market

• School: Dalhousie University
• Department: Management
• Course: MGMT 2402
• Professor: Nan Clory

Document Summary

Involves 5 major stages: research problem, research methodology, data collection regarding research problem, analysis data and overall research findings, making changes to the organization with the overall findings. The main research process is designed to lead into a successful course of action, monitoring the system is important to ensure the organization is on track. When marketing is appropriate: most organizations have limited amount of resources, before proceeding with any research, the following should be considered: Relevance- is the problem a current issue today. Timing- research takes up a lot of time, does the organization have that time. Need of new information- no research should be conducted if there is already information on the issue. Cost-benefit analysis- the cost of the research should be compared to the results of the research. Types of research: exploratory research- gathering information on a general problem, descriptive research- information used to solve a well-defined problem.