It assists marketing managers in their decision making
IT IS NOT A REPLACEMENT FOR MANAGERIAL JUDGEMENT!!
Classification of Marketing Research Marketing Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research Segmentation Research Product Research Promotion Research Distribution Research Problem Identification Research Problem Solving Research
Marketing Research Industry Research Suppliers Internal Limited Service Full Service External Other Services Field Services Customized Services Syndicated Services Internet Services
Determining When to Conduct Marketing Research Is sufficient time available ? Information already on hand inadequate? Is the decision of strategic or tactical importance? Does the information value exceed the research cost? Conduct Marketing Research Do Not Conduct Marketing Research Time Constraints Availability of Data Nature of the Decision Benefits vs. Costs Yes Yes Yes Yes No No No No