MUS 239 Ch 1
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Function of Marketing Research
to link an organization to its market through information
Marketing Information System
A continuing and interacting structure of people, equipment and procedures designed to gather sort, analyze, evaluate, and distribute pertinent timely and accurate information to marketing decision making
Four Stages of Market Planning
- Situation analysis
- Strategy development
- Marketing program development
Situation analysis analyzes
- Market environment
- Market characteristics
- Consumer behavior
Market Research Provides Info to Assist Management With Three Critical Decesions
- What business should we be in?
- How will we compete?
- What are the objectives for the business?
Factors Influencing marketing Research Decisions
- Type and Nature of Info Sought
- Availability of Resources
- Cost-benefit Analysis
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