Study_Guide_for_Lecture_5_-_Market_Research_I - Study Guide...

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Marketing 431 Study Guide Lecture 5 Market Research page 1 ©2007 Bruce Robertson Study Guide for Lecture 5 – Market Research I Definitions Decision A conscious choice from among two or more alternatives There has to be more than one option You must take different courses of action for each alternative Data A fact Information A fact that is used to make a decision Intelligence Data Raw and unadorned Information Endowed with context and meaning Filtered, synthesized, aggregated Intelligence A full appraisal of information, past, present, options A property of the organization Barriers to intelligence Human barriers Ego Inaccuracy Non-compliance Technological barriers Legacy systems Information silos Database proliferation
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Marketing 431 Study Guide Lecture 5 Market Research page 2 ©2007 Bruce Robertson Pseudo-Research Data that is developed to justify a decision that has already been made CYA Marketing Information In order to make good decisions, you need good information GIGO Today, we live in a computer-mediated networked world We need systems to deliver The right information In the right form At the right time Marketing Information System (MIS) A conceptual framework for understanding how to get good information at the right time This is the ideal to which we aspire Doesn’t exist yet Companies are building a competitive advantage by trying
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Study_Guide_for_Lecture_5_-_Market_Research_I - Study Guide...

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