COMMERCE 2MA3 Chapter Notes - Chapter 7: Decision Support System, Market Research, Influencer Marketing

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Chapter 7: marketing research, decision support systems, and sales forecasting. Syndicated services: organization that provides standardized data to all. Base their reports on personal interviews, exposure to advertising, Clients include advertisers, advertising agencies, magazines, or point-of-sale scanner data newspapers, broadcasters, and cable tv networks. 1. contracts with clients to conduct complete marketing research projects. Becomes the client"s marketing research arm, performing all the steps in the marketing research process. 1. specializes in a limited number of research activities, such as conducting field interviews or performing data processing. The marketing research process : stages of the marketing research process are, define the problem, conduct exploratory research. Exploratory research: process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources. May do so using its own internal data/records. Sales analysis: in-depth evaluation of a firm"s sales. One of the least expensive and most important tool.

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