MKTG Research Exam # 1

MKTG Research Exam # 1 - Study Guide - MKTG 4100 Chapter 1...

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Study Guide - MKTG 4100 Chapter 1 Marketing research o Marketing research is the systematic gathering, recording, analyzing and interpreting of data about opportunities relating to marketing of goods and services o It is the function that links an organization to its market through the gathering of information that improves marketing decision-making. o Marketing research is needed to obtain, analyze, and interpret that required additional information needed by management in order make decisions. This challenge has increased in recent years due to an explosion in data. Marketing situation analysis o The purpose is to monitor marketing programs and determine whether changes are necessary. o Market analysis o Opportunity Assessment Collecting market information to forecast changes. Basically it is the collection of information of specific trends (economic and social, political and regulatory, etc) and then interpret how those trends will impact and influence the product market It uses three common approaches: Content analysis : analysis of various trade publications, newspapers, web sites, etc for information on trends in an industry In-depth interviews : formal, structured interviews with experts in a given field Formal rating procedures : structured questionnaires to gather information on environmental occurrences o Market Segmentation o Benefit and lifestyle studies Examine similarities and differences in consumer’s needs The purpose is to identify segments within the market for a particular company’s products. The main objective is the development of market segmentation profiles.
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This note was uploaded on 03/16/2012 for the course MKTG 4100 taught by Professor Armentashchian during the Spring '12 term at Kennesaw.

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MKTG Research Exam # 1 - Study Guide - MKTG 4100 Chapter 1...

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