Management and Organizational Studies 3322F/G Chapter 12: CHAPTER 12
10 Jan 2019
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Document Summary
A considerable amount of money is invested in marketing communications, businesses care about protecting its investments. Its desire to remain competitive and be knowledgeable about consumers changing needs makes it necessary to collect appropriate information before and after critical decisions are made. Research provides an organization with data which is always subject to interpretation. A vital marketing tool, research is used to help reduce or eliminate the uncertainty and risk associated with making business decisions. Form of insurance, it ensures the decision being made is the right one. Marketing research: a marketing function that links the consumers/customer/public to the marketer through information. The information is used to define marketing opportunities and problems, generate marketing strategies, evaluate marketing actions and monitor performance. Reliability: degree of similarity of results achieved if another research study were undertaken under similar situations. Validity: a research procedures ability to measure what it is intended to measure.
