6 Make decision manager need to weigh the evidence Make decision based on

6 make decision manager need to weigh the evidence

This preview shows page 3 - 5 out of 5 pages.

Present findings – present only findings that are relevant to the major marketing decision. 6) Make decision – manager need to weigh the evidence. Make decision based on confidence in the findings. marketing decision support system (MDSS) - coordinated collection of data, systems, tools, and techniques with - supporting hardware and software - an organization gathers and interprets relevant information - from business and environment AND turns it - basis for marketing action Characteristics of Good Marketing Research 1) Scientific method – observation, hypothesis, prediction, testing 2) Research creativity – innovative ways to solve a problem 3) Multiple methods – don’t over reliant on any 1 method. Use 2/3 method increase result confidence 4) Interdependence of the type of information sought- data are interpreted from underlying models 5) Value and cost of information – value of research depends on reliability & validity of the findings, & management willingness to accept the findings. Should estimate value of info against its cost 6) Healthy skepticism – researcher should have healthy skepticism towards marketing myths 7) Ethical marketing – x harm / annoy customer, x an invasion to customer privacy, x make it a sales pitch Barriers Limiting the Use of Marketing Research 1) A narrow conception of the research – firms x know what marketing research is capable of 2) Firms x provide researcher the right problem & info 3) Unrealistic expectations about what research can offer Marketing research in Asia – Challenges : 1) data on asia markets (especially less developed countries) – x existent, x reliable, costly to get – often just guess (eg population, income) 2) Few comparable databases – diff country hav diff approach to count no. of travelers leaving their countries 3) Collection of primary data – survey : x sampling list, unqualified interviewers, bad language translation, respondent x be interviewed,fabricated data, x truthful responds, culture barrier, language barrier etc
Image of page 3
4) High quality, expensive hav varying meanings for diff countries – some regards imported things are good quality, some equate quality to expensive. 5) Cultural variation – muslim hav 4 wives, etc 6) X send mail survey cuz low literacy / poor postal service. Phone interview x conduct cuz x everyone hav phone. So have to rely on other technique (interview, focus group, observation) & over-explanation of the research topic may occur & might x representative 7) Asian countries oso vary in their research capabilities 8) Rate of change in asia very high. Data might outdate very quickly & x help to forecast pattern of behavior *overcome challenges : x develop 1 marketing research study for all of asia – do a sequence of piloting, adaptation, rollout, + external validation among data sources +standardize question structure + back-translation + logic check of question + samples based on future demographic profiles to counter asia rapid change *research capabilities & infrastructure will improve as more companies enter asia.
Image of page 4
Image of page 5

You've reached the end of your free preview.

Want to read all 5 pages?

  • Spring '14
  • Marketing, Study Guide, Lecture Notes, Summary, Kotler, marketing research firm, marketing research firms

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes