chapter 9 outline

chapter 9 outline - BMGT350 Chapter 9 LO1 Marketing...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
BMGT350 Chapter 9 LO1: Marketing Decision Support Systems Accurate and timely information is the lifeblood of marketing decision making Marketing decision support system (DSS) : an interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions o Characteristics: interactive, flexible, discovery oriented, accessible Database marketing : the creation of a large computerized file of customers’ and potential customers’ profiles and purchasing patterns LO2: The Role of Marketing Research Marketing research : the process of planning, collecting, and analyzing data relevant to a marketing decision o Provides decision makers with data on the effectiveness of the current marketing mix and insights for necessary changes o Has 3 roles: Descriptive: includes gathering and presenting factual statements Diagnostic: includes explaining data Predictive: addresses the “what if” questions o Marketing research is important because: Improve quality of decision making Trace problems Focus on keeping existing customers Understand changes in marketplace LO3: Steps in a Marketing Research Project The marketing research process o 1) identify and formulate the problem/opportunity o 2) plan the research design and gather primary data o 3) specify the sampling procedures o 4) collect the data o 5) analyze the data
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
o 6) prepare and present the report o 7) follow up Marketing research problem: determining what information is needed and how that information can be obtained efficiently and effectively o Information oriented Marketing research objective: the specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information Management decision problem: a broad-based problem that uses marketing research in order for managers to take proper actions o Action oriented Secondary data : data previously collected for any purpose other than the one at hand o Includes documents such as annual reports, reports to stockholders, product testing results, etc o Advantages: Saves time and money if on target Aids in determining direction for primary data collection Pinpoints the kinds of people to approach Serves as a basis of comparison for other data o Disadvantages: May not give adequate detailed information May not be on target with the research problem Quality and accuracy of data may pose a problem Marketing research aggregator: a company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms Research design: specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/14/2011 for the course BMGT 350 taught by Professor Boyd during the Fall '08 term at Maryland.

Page1 / 7

chapter 9 outline - BMGT350 Chapter 9 LO1 Marketing...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online