MKT 410- Midterm Exam Guide - Comprehensive Notes for the exam ( 58 pages long!)
Document Summary
Diagnostic (prescriptive): describes the effect that one variable has on another variable, optimization. Predictive: using descriptive and diagnostic data to make predictions about unknown values of a variable of interest. Expanded use of digital technology for information acquisition. Situation analysis: understand the environment and the market, identify threats and opportunities, assess the competitive position. Strategy development: define the business scope and served market segments, establish competitive advantages, set performance objectives. Marketing program development: product and channel decision, communication decisions, pricing, personal selling decisions. Implementation: performance monitoring, refining strategies and program. The development of a research purpose that links the research to decision making, and the formulation of research objectives that serve to guide the research, are unquestionably the most important steps in the research process. Develop the approach to the problem: formulating an analytical framework and models, research questions, hypotheses (research objective) Identification of the problem and statement of the research objectives.
