Week 1 - Intro to marketing research Flashcards
1
Q
What is Marketing Research?
A
The SYSTEMATIC and OBJECTIVE identification, collection, analysis and use of information.
2
Q
What are some activities done in problem-identification research?
A
- Market potential research
- Market share research
- Image research
- Business trends research
3
Q
What are some activities done problem-solving research?
A
- Segmentation research
- Product research
- Price research
4
Q
What are some pre MDP tasks?
A
Problem audit:
- Discussions with key stakeholders
- Discussions with decision-makers
5
Q
MDP characteristics
A
- What manager needs / wants to do
- Action-oriented
- Symptom focus
6
Q
MRP characteristics
A
- What information is needed and how it should be obtained
- Information orientated
- Focuses on the underlying cause
- Has a broad statement
- Has key components
- ‘To determine key components of’
