MKTG202 Final: MKTG202: Market Research Exam notes
26 Sep 2018
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Week 1-role of market research and the research process. Market research applies to all stages of developing and implementing marketing strategy. Identifying and evaluating opportunities: market research involves investigating potential opportunities to identify attractive areas for company action. Example: mattel toys investigates consumer"s desires for play experience to create new products, nike development of a walking shoe came from marketing research and on occasions or situations associated with product use, analysing and selecting target markets. Market research: assisting in determining which characteristics of market segments distinguish each segment from the overall market. Example: mass merchandisers are just as popular distributions channels for golden. Example: student surveys on unit evaluation and teaching form an important part of the performance and monitoring process of teaching in universities. Value of marketing research: fulfills the marketing managers need for knowledge of the market, effective marketing management requires research, marketing research reduces the uncertainty of marketing strategies and tactics.
