MKT 500 Chapter Notes - Chapter 1: Decision Support System, Marketing Effectiveness

• School: Ryerson University
• Department: Marketing
• Course: MKT 500
• Professor: Julie Kellershohn

Document Summary

Change is occurring at an unprecedented pace in several areas, including technology, communications, social relationships, global economy, and politics. Managers need new information to help them make informed decisions more than ever: marketing research is one source of this information. Consumers have been given the power, through online innovations, to generate their own information, creating consumer-generated media . Marketing (ama definition): the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Modern marketing holds that firms must collaborate with and learn and improves the values offered to the public that meets their specific needs from customers, adapting to their changing needs. To practice marketing well in today"s environment requires more and better information. Marketing research is a part of marketing because it provides the necessary information to enable managers to market ideas, goods, and services properly.