MKT 444 Study Guide - Midterm Guide: Causal Inference, Electronic Data Interchange, Marketing Mix

• School: Iowa State University
• Department: Marketing
• Course: MKT 444
• Professor: All

Document Summary

Marketing research the application of the scientific method in searching for the truth about marketing phenomena. These activities include defining marketing opportunities and problems, generating and evaluating marketing ideas, monitoring performance, and understanding the marketing process. Applied marketing research research conducted to address a specific marketing decision for a specific firm or organization. Basic marketing research research conducted without a specific decision in mind that usually does not address the needs of a specific organization. It attempts to expand the limits of marketing knowledge in general and is not aimed at solving a particular pragmatic problem. The scientific method the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. Product oriented describes a firm that prioritizes decision making in a way that emphasizes technical superiority in the product. Production oriented describes a firm that prioritizes efficiency and effectiveness of the production processes in making decisions.