MKT 500 Study Guide - Final Guide: Decision Support System, Royal Irish Academy, Marketing Intelligence

• School: Ryerson University
• Department: Marketing
• Course: MKT 500
• Professor: Helene Moore

Document Summary

The purpose of marketing research: managers must have information not only about the customer, but also about how to deliver value to the customer. The right marketing strategy : consists of selecting a target market and designing the mix to satisfy the needs and wants of the target market, and to it more quicker than the competition. What is marketing research: the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem. Market research : refers to applying marketing research to a specific market area. Includes: market intelligence and survey research, competitive intelligence, data mining, insight, and knowledge management. Marketing information system: structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute timely, and accurate information to marketing decision makers. The professional marketing research society (pmrs), canadian association of market.