Exam _1, Study Guide - Spring, 2006 Exam #1, Study Guide...

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Spring, 2006 Exam #1, Study Guide Know and understand the steps in an organizations strategic planning process o Defining the company mission o Setting company objectives and goals o Designing the business portfolio o Planning marketing and other strategies (first 3 are corporate level, fourth is the business unit, product, and market level MIS: be familiar with the major modes of conducting marketing research. Understand o Exploratory Research- Gather prelim. Info. That will help define the problem and suggest hypothesis o Descriptive Research-Describes things (market potential for a product, demographics, and attitudes) o Casual Research- Tests hypothesis about cause and effect relationships Understand the difference between primary & secondary data, which method would be mined? o Primary data Consists of information collected for the specific purpose at hand Must be relevant, accurate, current, and unbiased
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Exam _1, Study Guide - Spring, 2006 Exam #1, Study Guide...

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