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Marketing Research MBA - Quiz 1

Marketing research involves gathering objective and accurate information to help make the best marketing decisions. It is the process of designing, collecting, analyzing, and reporting data to solve a specific marketing problem. Market research focuses on a particular market, customer group, geographic area, or narrow area. It helps identify opportunities and problems, evaluate brand perceptions, generate and test potential actions, determine campaign effectiveness, and improve customer satisfaction and marketing overall. The marketing information system is a structure that gathers, organizes, analyzes and shares the needed information with decision makers. It has four main components: the internal reports system, marketing intelligence, marketing decision support system, and marketing research.

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173 views2 pages

Marketing Research MBA - Quiz 1

Marketing research involves gathering objective and accurate information to help make the best marketing decisions. It is the process of designing, collecting, analyzing, and reporting data to solve a specific marketing problem. Market research focuses on a particular market, customer group, geographic area, or narrow area. It helps identify opportunities and problems, evaluate brand perceptions, generate and test potential actions, determine campaign effectiveness, and improve customer satisfaction and marketing overall. The marketing information system is a structure that gathers, organizes, analyzes and shares the needed information with decision makers. It has four main components: the internal reports system, marketing intelligence, marketing decision support system, and marketing research.

Uploaded by

Peregrin Took
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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MARKETING RESEARCH – MBA

Short Quiz 1 (Questions and Answers)

Why do we need Marketing Research?

1. Make the right decisions!!!


2. Have the right information (objective, timely and accurate) to make the best decisions, that is,
implement marketing
3. Chose the right philosophy - marketing concept - to guide daily decisions
4. Make the right selection of marketing strategies

What is Marketing Research

Marketing research is the process of designing, gathering, analyzing, and reporting information that may
be used to solve a specific marketing problem.

What is Market Research?

Market research is the systematic


gathering, recording, and analyzing of data with respect to a particular market.

Applying marketing research to a


specific market area.

A specific customer group

In a specific geographic area

More narrow than Marketing Research

Applications of Marketing Research

1. Identify market opportunities, problems


2. Consumer perceptions of healthy foods
3. Problems with existing brands (Apple TV)
4. Generate, refine, evaluate potential actions
5. Useful for repositioning
6. Determine effectiveness of campaigns
7. Monitor marketing performance
8. Research impact of ads
9. Tracking research for performance over time
10. Customer satisfaction studies
11. Improve marketing
12. Academic research gives useful insights
MARKETING RESEARCH – MBA
Short Quiz 1 (Questions and Answers)

What is The Marketing Information System (MIS)

Is a structure consisting of people, equipment, and procedures to gather, sort, analyze,


evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Role is to:

Determine decision makers' information needs,


acquire the needed information, and
distribute that information

Components of MIS

1. Internal Reports System


2. Marketing Intelligence
3. Marketing Decision Support System (DSS)
4. Marketing Research

Internal Reports System

Information generated by internal reports such as orders, billings, inventory levels, and sales call records

Marketing Intelligence

Procedures and sources to obtain everyday information about developments in the environment

Marketing Decision Support System (DSS)

Collected data that may be accessed and analyzed using tools and techniques that assist managers in
decision making

Marketing Research System

- Gathers information not gathered by the other MIS component subsystems


- Gathered for a specific situation facing the company
- Not continuous but have a beginning, middle and end

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