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Lecture 2

MKT 500 - Week 2.docx

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MKT 500
Mark Speed

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MKT 500 – Week 2 When to say no to research? • The information already exists. • timing doesn’t work… we must react now! • No money available for marketing research. • Have some money, but the cost outweighs the value gained from marketing research. • The decision has already been made • The most important step in the marketing research process. • If the problem is incorrectly defined, everything that follows is wasted effort. • Problems may be either ________or _______. • Problems either look back at events (i.e. what was _______ to happen vs. what ___ happen) or look ahead to opportunities (i.e. what __ _________ happening vs. what ______ be happening). • Managers must be careful to avoid confusing symptoms with problems. • Symptoms are changes in the level of some
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