Week Discussion 1 - I completely agree with Minerva, it is...

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I completely agree with Minerva, it is important for companies to understand their markets, especially when they grow internationally. I also found that the text lists some areas where companies fail to use market research correctly. This in itself can cause problems when trying to get the correct information needed to put together a successful marketing plan. The following are the examples provided in our text: - A narrow concept of the research – Many managers do not fully understand the process, so they may not provide all the necessary or correct information to the researches. This is a not only a huge challenge for researchers, but can end up being a complete waste of their time. The researchers would perform all the steps that go into the process only to find that they were for example, looking for the wrong information in the first place, and have to start all over again. - Poor framing of the problem – The problem must be defined properly before the researchers begin their work, otherwise the consequences of implementing the results
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This note was uploaded on 03/26/2012 for the course MM522ON MM522ON taught by Professor Vincent during the Spring '10 term at Keller Graduate School of Management.

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