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National Institute of
Business Management
Chennai - 020
THIRD SEMESTER MBA
Subject : Management
Research
Question.1 Explain the purpose of market research.
Answer: Marketing research is a form
of business research. and Business-to-Business (B2B) Marketing Research, or
Business Marketing Research, previously known as Industrial Marketing
Research.B2B Marketing Research investigates the markets for products sold by
one business to another, rather than to consumers. Market research is the
process of
Question 2. What are the advantages
of Marketing Decision Support System (MDSS) ? Explain.
Answer: Marketing is very much concerned with satisfaction of customer needs
through better products and services. Marketing starts with the customer needs
and ends with products to satisfy these needs. Unless these needs and wants of
the customers are assessed, products cannot be designed to suit the
requirements and ultimately to the satisfaction of the customers.
Manufacturers of
all products are running their own race, a race that never seems to end. Now a
day, markets are flooded with different products and services from a large
number of companies. The buyers have become choosy. In this dynamic
environment, the company has to continuously change its plans and strategies to
suit the changes taking place in the environment.
These aspects of
marketi
Question 3. Explain the basic steps
by which marketers plan and conduct marketing research.
Answer: Marketers plan and conduct marketing research by the following five
basic steps. They define the problem, formulate a hypothesis, design the
research, collect the data and interpret the findings for presentation to the
management. These steps are explained below:
(i) Define
the problem
A clear
description of the marketing problem being researched is the first step. When a
marketing research is undertaken, the researcher knows that there is a problem
that must be solved. But the focus should be narrowed. Each problem
Question 4. Explain the two levels at
which marketing research must be evaluated and controlled.
Answer: Market research is the process of systematic gathering, recording
and analyzing of data about customers, competitors and the market. Market
research can help create a business plan, launch a new product or service, fine
tune existing products and services, expand into new markets etc. It can be
used to determine which portion of the population will purchase the
product/service, based on variables like age, gender, location and income
level. It
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