Management and Organizational Studies 1021A/B Lecture 8: MOS Lecture #8 notes

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Sarah Ross

Document Summary

Market research: the process of planning, collecting, and analyzing information in order to recommend actions to improve marketing activities. Assess future opportunities: good example: betty crocker cake mix (took out the egg, bad example: adult baby food, carbonated beverages for cats and dogs, pepsi. Market information system: a set of procedures and processing for collecting, sorting, analyzing, and summarizing marketing information on an ongoing basis. Metrics: numeric data that is collected and grouped to track performance, often presented in spreadsheets and dashboards (examples: fig. Dashboards: the visualization of data and key performance indicators using graphs, charts, and numbers so that numerical information tells a story that is insightful, easy to use, and understand. Market share: the percentage of sales volume for a product, relative to the entire sales volume of the category in which it completes. Brand development index (bdi): an index that shows how well a brand"s sales are developed in a region relative to the region"s population size.