BUS 358- Midterm Exam Guide - Comprehensive Notes for the exam ( 23 pages long!)

• School: Stony Brook University
• Department: Business Management
• Course: BUS 358
• Professor: Mohammed Osman

Document Summary

Application of scientific method in searching for truth about marketing phenomena. Process includes: idea & theory development, problem definition, info gathering, analyzing data, communicating findings and implications. Suggests that info is: not intuitive/haphazardly gathered, accurate and objective, relevant to all aspects of mkting mix, limited by one"s definition of mkting. Applied marketing research: conducted to address specific mkting decision for specific firm/org. Basic mkting research: conducted w/o specific decision in mind and usually does not address needs of specific organization. Not aimed at solving pragmatic problem: can test validity of general mkting theory (one tht applies to all mkting) or can be used to learn more about some mkt phenomenon. Scientific method: method which researchers go about using knowledge and evidence to reach objective conclusions about real world, mkting researchers apply scientific method to understand mkting phenomena. Mass mkts often requird for success: marketing oriented.