COMMERCE 3MA3 Study Guide - Midterm Guide: Client Confidentiality, List Of Fables Characters, Dependent And Independent Variables
25 Oct 2020
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Marketing : process of planning & executing 4ps for ideas, good, services to satisfy personal and company objectives. 1: create market offering that meets need of consumers among competition. Goal orientation means firms are: consumer oriented for profit goals. System orientation means firms: pay attention to internal/external environment and understand consumer wants (both of things above as well) Planning, collection, analysis (p. c. a) of data for market decision-making and sharing results with management. Descriptive function : gathering and presenting facts, helps understand what happened. Diagnostic function : explanation of facts, helps understand why and how. Predictive function: using two things above to predict results of choices made. Be proactive , not reactive (good for long term) Applied marketing research : started by business to solve their problems and directly contributes to decision making. Consumer attitudes to new product idea, which celebrity would increase sales of product. Basic / pure research : study general theories for knowledge, done by academic researchers.
