MKF 2121 Marketing Research Method Notes - MKF 2121 Marketing Research Method Defining the problem is about taking a vaguely defined problem faced by

MKF 2121 Marketing Research Method Notes - MKF 2121...

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MKF 2121 Marketing Research Method “Defining the problem” is about taking a vaguely defined problem faced by managers (MDP) and turning it into a well-defined, well-articulated and solvable problem for marketing research specialists (MRP) Marketing Research Problem (MRP) Define the MRP (2 steps) Broad statement Break it down into components - Research question: specific questions that need to be answered by the research MDP: the problem confronting decision maker. It is action orientated. It is concerned with the possible actions DM can take. - What should be done to improve the patronage of MYER, my store? MRP: A problem that entails determining what information is need and how it can be obtained. It is information orientated, and it focuses on the underlying causes. Exercise i. Should Apple sell Iphone 7 at less than $300? – MDP
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