Advantages of problem formulation, Marketing Research

Assignment Help:

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


Related Discussions:- Advantages of problem formulation

Services policy of cover issued , Services Policy : When Indian firms rend...

Services Policy : When Indian firms render services to foreign parties, they would be exposed to payment risks similar to those involved in export of goods. Services Policy offers

Methods of dealing with foreign exchange risks, METHODS OF DEALING WITH FOR...

METHODS OF DEALING WITH FOREIGN EXCHANGE RISKS A firm can deal with foreign exchange risks in the following ways: 1) Taking Risk: The firm may decide to bear the risk if t

Explain the term - marketing, Explain the term - Marketing Marketing R...

Explain the term - Marketing Marketing Research stimulates the flow of marketing data from customers and his environment to Organization marketing research tools are applied e

Benefits of marketing research, Question: The developers of "Sonny Musi...

Question: The developers of "Sonny Music? predict that their new service will be a success. Their prediction is based on their experience of launching an existing service. (

Explain the typese of customers, Q. Explain the typese of customers? O...

Q. Explain the typese of customers? One group can include the price-sensitive ones called the transactional ones. In India this segment exists in mainly product categories ra

Statistics, For this assignment you will incorporate descriptive statistics...

For this assignment you will incorporate descriptive statistics into basic data analysis. You will create a table depicting the following data. Then, based on (b.) below, create a

Prescribed manner , Prescribed Manner : The manners in which the export pr...

Prescribed Manner : The manners in which the export proceeds are to be realised include: i) Payment should be received through an authorised dealer except in cases where genera

Rbi code number-other provisions, RBI Code Number: This code number is...

RBI Code Number: This code number is a requirement under the Foreign Exchange Regulation Act (FERA). For obtaining the code number, the firm has to apply to the Divisional Off

Prepare a brief marketing plan, ‘Tots & Teens Fashion' is a small business ...

‘Tots & Teens Fashion' is a small business based in Birmingham, UK. It is owned by Amara and her husband Tariq who started the business 2 years ago. The business supplies a r

Running account facility-packing credit, Running Account Facility: The RBI...

Running Account Facility: The RBI has permitted banks to grant packing credit advances even without lodgement of LIC or firm order /contract under the scheme of Running Account Fa

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd