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Marketing Research
Explain the difference between marketing research and a DSS.
Marketing research may provide data for use in a DSS as input, but the knowledge component is an aspect of the human expert participation in the gathering and analysis of data. Indeed, some computer modeling platforms (such as Bayesian Belief Networks) employs a combination of data, modeling software, and the judgment of experts to make decisions about, for instance, a product launch. Conventional market research employed if-then scenarios only with great expenditures of resources, whereas, with a decision support system, these scenarios can be changes expediently. However, as with any automated system the quality of the decision is only as good as the quality of the input, an attribute that is difficult to assess in a lock-step process using an over-simplified interface. As machine modeling reaches more disciplines, more examples of how (and how much) these systems can fail. This is what Black...
The question becomes: Which approach provides the most accurate and timely information about long-tail data -- market research (particularly qualitative market research) or DSS?
2. The task of marketing is to create exchanges. What role might marketing research play in the facilitation of the exchange process?
Effective marketing research can facilitate the process of increasing consumer awareness about products and services that are most likely to be of interest to them. Most advertisements on the Internet function in this way. By targeting certain customers to receive information on products and services that address their needs or lifestyle preferences, marketers can narrow the universe of choices and facilitate consumer purchase decisions.
3. Give an example of 1) the descriptive role of marketing research, 2) the diagnostic role, and 3) the predictive function of marketing research.
Marketing research that…
references and needs. Also, the proliferation of products and services, much of which is advertised on digital or mobile platforms, puts an emphasis on differentiation by consumers. Inbound marketing also provides consumer information that can be applied to new promotions.
5. Why are secondary data sometimes preferred to primary data?
Secondary data is less expensive to gather, and if the population was very large in the original study, the data may be more accurate or more valuable
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Marketing to the Bottom of the Pyramid Ethical issues: 7 Social Issues: 7 Market Opportunity: 8 Value for underprivileged: 8 The underdeveloped countries are becoming major emerging markets with a huge potential based on the large populations. The large corporations operating in developed markets also expand in international markets. The multinational companies operating in under developed and developing countries also look for opportunities in the market through a different approach. The key question that needs