Advantages of problem formulation, Marketing Research

Ii is experienced that sometimes a vaguely formulated problems introduces many difficulties in proper decision making as well as to conduct true and relevant research. A proper definition not only arrives at an operational statement but it also uncovers the basic problem that underlines the symptoms which are to be solved. The followings are the main advantages of problem formulation:

a. It orients i ,e, brings into clear understanding of the relations and determines the position of decision maker and there searcher within the framework of classified marketing.

b. It tires to relate the problem with other marketing problems by finding hidden difficulties and new opportunities.

c. Suggests the source of data and facilitates their interpretation.

d. Determines the action needing priority and the one with needs more detailed investigation.

e. Enables the decision model to be well conceived.

f. Identifies the data relevant to the problem.

g. Pinpoints the gaps in the knowledge that may call for formal research

Posted Date: 3/30/2013 3:53:29 AM | Location : United States

Related Discussions:- Advantages of problem formulation, Assignment Help, Ask Question on Advantages of problem formulation, Get Answer, Expert's Help, Advantages of problem formulation Discussions

Write discussion on Advantages of problem formulation
Your posts are moderated
Related Questions

Procedural Formalities : The ECGC has three types of claim forms: (i) Form No.501 for claims rising due to non payment for goods accepted by the buyer, (ii)Form No.502 for claims

Question: You are appointed as the Group Marketing Director of a renowned hotel group. Your task is to develop a business plan to attract sales and achieve an occupancy rate of

POST-SHIPMENT FINANCE : It may be defined as "any loan or advance granted or any other credit provided by a bank to an exporter of goods from India from the date of extending the

Question: You are a newly installed marketing manager in a company selling products in the business-to-business sector in Mauritius. Currently, the company only has a limited

INTRODUCTION : Cargo insurance, commonly known as marine insurance, occupies an important position in international business. It provides protection against unanticipated business

What is the difference between abstract construct and concrete variable?

Characteristics of Research:- Characteristics of research are as below: - 1. Systematic Approach:- Each step should on your investigation be so planned that it lead to