MKT 3401 : Marketing Test 2 Study Guide
Document Summary
Marketing information- everyday information about developments in the marketing environment that managers use to prepares and adjust marketing plans. Marketing research- process of planning, collecting, and analyzing data relevant to a marketing decision: process of gathering marketing information. Role of marketing research: descriptive- gathering and presenting factual statements, diagnostic- explaining data, predictive- address what if questions. Marketing research process: define problem, plan design and gather data, specify sampling procedure, collect data, analyze data, prepare/present report, follow up. Marketing research problem- determining what information is needed and how that information can be obtained efficiently and effectively information oriented. Marketing research objective- specific information needed to solve a marketing research problem, the objective should be to provide insightful decision-making information. Management decision problem- broad based problem that uses marketing research in order for managers to take proper actions action oriented. Product- everything both favorable and unfavorable, that a person receives in an exchange: tangible, service, idea.
