BA 211 Lecture Notes - Lecture 2: Philip Kotler, Barter, Secondary Market
Document Summary
By the end of your study of this unit, you should be able to: understand market information system, explain the concept of market research, distinguish market research from marketing research, explain the market research process. It is very important to understand at the outset that the, modern concept of marketing revolves around the customer. Satisfaction of customer is the main aim of marketing. For achieving this goal, marketing research is undertaken. marketers need information to interpret their past performance and analyse current marketing environment. They need to develop knowledge on their particular markets. There is a growing supply of information on the market. However, managers often lack enough information of the right kind or have too much of the wrong kind. To overcome these problems, many companies are taking steps to improve their marketing information systems defined as a planned, orderly, continuous collection, analysis and presentation of information to marketing managers for marketing decisions.
