MCS 1000 Chapter Notes - Chapter 5: Cluster Analysis, Factor Analysis, Small Business

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: John Liefeld

Document Summary

4 major reason information is important in marketing. To cope with rapidly change in environment. The issues marketer"s face when assessing information needs. A good mis balance the information users would like against what they really need and what is feasible to offer. Sometime the company cannot provide the needed information because it is not available or due to mis limitations. Have to decide whether the benefits of more information is worth the costs. The systematic collection and analysis of publicity available information about competition and development in the marketing environment. Source; internet, newspaper competitors annual report, competitors display at trade shoes, from your suppliers, your resellers and even spying. Marketing research; the systematic design, collection, analysis and reporting of data relevant to a specific situation. Developing the research plan for collecting information. Implementing the research plan collecting and analysis the data. Three main types of mr role and objective.