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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Marketing research |
The process of planning, collecting.analyzing, and communicating information that is relevant to making better marketing decisions |
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Situation analysis |
Examines: -Economic environment -Technological development -Social changes, changes in buying behavior -legal and political developments -size of existing market and the potential market -rate of market growth -buyer behavior -brand loyalty -competitive behavior -market share trends |
Questions addressed by marketing research |
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Strategy development |
1)What business should we be in ? 2)how will we compete? 3) what are the goals for the business? |
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Marketing plan development |
Focuses on how the elements of the marketing mix can be most effectively used. |
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Sampling |
The process of gathering data from a selected subgroup chosen from the population of interest |
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