Business research-2

Business research-2 - Managers need information Target...

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Pharmaceutical Mobile operator Bank Car manufacturer Airlines Hotel Tour Operator Tobacco manufacturer Cosmetics Manufacturer
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New Product/Service Development? Improve performance Required Information Why? Possible Sources
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“Research is a systematic  collection, analysis and  interpretation of data to answer  certain questions or to solve a  problem”
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Research  Activity Information Decision  Making
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Why Research? Fill in gaps in information Find answers to questions so far  unexplained To add to the body of knowledge To create or develop new or better  tools, methods, programs, equipments  etc.
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Research in Business New product development decision Advertising decision Experimentation Marketing strategies Measure awareness  Gather attitude and opinions Measure image
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Research has grown in Business Marketing research field in doubling in size in  every five years Managers are separated from final consumers
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Unformatted text preview: Managers need information Target market Products/services Price Distribution Promotion MIS- Case of Gillette Personal Interview-Annualy Mail questionaire-Annualy Telephone survay Annually User test Montlhly Inventory audit Monthly WHY Market share Brand swiching Attitude Brand loyality Awareness Perception Advantage Shelf life Forecasting Shelf coverage MANAGEMENT- RESEARCHER Problem statement Needed information Evaluate proposals Evaluate commercial research services Decision making CHALLENGES Information not available Information not accurate/misleading Difficult to communicate why-human feelings Test marketing is not possible or very expensive Time factor Exposing plan/information/product Sufficient Time Data Not Available Important Decision Benefit > Cost...
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This note was uploaded on 04/24/2011 for the course BUS 302 taught by Professor Dr.syedshahadathossain during the Spring '11 term at BRAC University.

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Business research-2 - Managers need information Target...

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