Chapter1 - MARKETING RESEARCH 5th edition Alvin C. Burns...

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1 M ARKETI NG M ARKETI NG RESEARCH RESEARCH 5 th th edition edition Alvin C. Burns Alvin C. Burns Ronald F. Bush Ronald F. Bush What's It All About?
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2 Introduction to Marketing Research
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Ch 1 3 Because Marketing Research is part of Marketing we should understand: What is marketing? What is the marketing concept? What is marketing strategy?
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Ch 1 4 What is Marketing? Marketing has been defined by the AMA as an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
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Ch 1 5 What is the Marketing Concept? The Marketing Concept is a business philosophy that holds that the key to achieving organizational goals consists of the company’s being more effective than competitors in creating, delivering, and communicating customer value to its chosen markets.
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Ch 1 6 What is Marketing Strategy? A Marketing Strategy consists of selecting a segment of the market as the company’s target market and designing the proper “mix” of the product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.
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Ch 1 7 Learning by Doing: Let’s Apply Marketing to a Restaurant a Restaurant Target market segment? Marketing strategy Location? Menu? Prices? Type? Advertising?
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Ch 1 8 Restaurant Marketing Decisions What if you owned a restaurant located in Austin, Texas near the University of Texas? What would be your marketing strategy? How certain are you that you made the right decisions?
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9 Restaurant Marketing Decisions What if the restaurant was located near a university in a foreign country like China, Thailand, Italy, Iceland, or Peru? What would be your decisions?
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This note was uploaded on 04/14/2009 for the course MKT 232 taught by Professor Staff during the Spring '08 term at Illinois State.

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Chapter1 - MARKETING RESEARCH 5th edition Alvin C. Burns...

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