Chapter 1: The Role of Marketing Research in Management Decision Making
August 26, 2014
Marketing (creating, communicating, and delivering value to customers; managing customer
relationships in ways that benefit the organization and its stakeholders).
• Customer centrucity.
Marketing Strategy (selecting a segment of the market as the company’s target market and
designing the proper “mix” of the product/service, price, promotion, and distribution system to
meet the wants and needs of the consumers within the target market).
• “How do you market?”
Marketing Research (the planning, collection, and analysis of data relevant to marketing
decision-making and the communication of the results of this analysis to management).
• Collecting data to make sense of it.
• Three Critical Roles:
o Descriptive (what; the gathering and presenting of statements of fact.
▪ Starbucks doesn’t make chocolate bars.
o Diagnostic (why; the explanation of data or actions).
▪ It is a very health-oriented society.
o Predictive (what can be done; the specification of how to use descriptive and
diagnostic research to predict th