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Chapter 3

Chapter 3 Ethics and Social Responsibility Textbook Notes

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Department
Business
Course
BU362
Professor
David Rose
Semester
Winter

Description
Marketing Research a set of techniques and principles for systematically collecting recording analyzing and interpreting data that can aid decision makers involved in marketing goods services or ideas Why is Research so important to marketers o Helps reduce some uncertainty in their operationsResearch help in decision making help find info that they need o Provides link between firms and their environmentsAllows firms to be customer oriented and build strategies with customer input o Firms can respond quickly to competitors movesThey are constantly researching competitoro Can Identify emerging opportunities and new and improved ways to satisfy customers needs and wantsMarket research is useful for not for profits and government too Marketing Information System MISA set of procedures and methods that apply to the regular planned collection analysis and presentation of information that then may be used in marketing decisionsWay to routinely accumulate info from internal and external sources so that the organization can have more informed decision makingMIS used for o Routine reports o Customized analyseso For individual marketing research projectsProvides customer information and purchase historyOrganized the data in data warehouseso Data warehouses large computer files that store millions of pieces of individual dataData Mining the use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored in databases or relationships among variables Way to extract valuable informationEthical Issues of Using Customer InformationStrong ethical orientation must be an important part of a firms marketing strategy and decision makingMarketers have a duty to understand and address the concerns of the various stakeholders in the firmMarketers cannot abuse their access to very private data about customersMust respect and protect the privacy of individual customers absolutely Acts in place to protect consumer privacy and ensure they have control o Privacy Act governs collection use disclosure and retention of personal information by federal government institutions o Personal Information Protection and Electronics Documentation Act PIPEDA governs the use collection disclosure and retention of personal info by the private sectorResearchers must ensure that info is confidential and only used for purpose of research3 guidelines from the Canadian Marketing Association for conducting ethical market research o Prohibits selling or fundraising under the disguise of conducting research o Supports maintaining research integrity by avoiding misrepresentation or omission of important research data o Encourages fair treatment of clients and suppliers Marketing research should only be performed to produce unbiased factual infoThe Marketing Research Process1 Define the Problem and Objectives 2 Design the Research Project 3 Data Collection 4 Analyze Data
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