MARK 302 Study Guide - Final Guide: Customer Relationship Management, Focus Group, Terabyte

• School: Concordia University
• Department: Marketing
• Course: MARK 302
• Professor: Anastasia Mavidis

Document Summary

Recognize the problem opportunity: marketing research may be used to evaluate products and services, promotion distribution, and pricing alternatives, opportunity identification: using marketing research to find and evaluate new opportunities in order to take advantage of them. Find out why the information is being sought. Use the symptoms to help clarify the problem: marketing researchers must be careful to distinguish between symptoms and the real problem (a symptom is a phenomenon that occurs because of the existence of something else ex. Loosing sales is the symptom oh high prices) Iceberg principle: focusing on the symptoms rather than the problem. Looking through past studies often saves the research and the firm a lot of time an money (avoid the misconception that newer data is better than older data) Determine whether the question can be answered: when marketing researchers promise more than they can deliver, that"s hurts their credibility.