Identifying Symptoms in Management

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In what circumstances may marketing research not be needed?

When the product is at the end of its life cycle

When costs outweigh the value (correct)

When competitive firms need to react quickly

When there is enough time to conduct marketing research

What is the primary consideration for routine decisions according to the text?

Availability of marketing intelligence system (MIS)

Obtaining information from the decision support system (DSS)

Experience of the managers (correct)

Obtaining information from internal reports system

When might the timing be considered wrong for conducting marketing research?

When there is enough time to conduct marketing research

When competitive firms are slow to react

When there is simply not enough time to conduct marketing research (correct)

When the product is at the beginning of its life cycle

What should all methods of measuring the value of research explicitly link the research results to?

Business impacts Signup and view all the answers

Which component of the marketing intelligence system (MIS) may be able to supply the data needed for routine decisions?

Other components of the marketing intelligence system (MIS) Signup and view all the answers

What should the methods of measuring the value of research demonstrate?

That something happened as a result of the research that would not have happened otherwise Signup and view all the answers

When is marketing research Not needed according to the text?

When costs outweigh the value Signup and view all the answers

What do research objectives state?

What the researchers must do Signup and view all the answers

In which step is exploratory research undertaken according to the text?

Step 4: Determine Research Design Signup and view all the answers

What is the purpose of exploratory research according to the text?

To learn more about the research problem and terms Signup and view all the answers

What is the purpose of conducting a situation analysis?

To gather background information and data Signup and view all the answers

Which of the following is NOT a method of conducting a situational analysis as mentioned in the text?

Benchmarking with industry competitors Signup and view all the answers

When conducting a situation analysis, what should the researcher start with?

Understanding the industry Signup and view all the answers

What is the purpose of clarifying the symptoms when diagnosing a problem?

To differentiate symptoms from problems Signup and view all the answers

What does a situation analysis reveal about declining sales in an example provided in the text?

It is mainly due to losing distributors Signup and view all the answers

What is the purpose of validation in a marketing research study?

To minimize the possibility of fieldworkers making up data Signup and view all the answers

What is the primary objective of data analysis in marketing research?

To determine if there are differences in intention to purchase Signup and view all the answers

What is the significance of communicating the results in marketing research?

It properly communicates the results to the client Signup and view all the answers

What is one of the potential challenges in marketing research related to fieldworkers?

Minimizing the possibility of fieldworkers making up data Signup and view all the answers

What is the industry standard percentage for validation in marketing research studies?

10% Signup and view all the answers

What is considered the most important step in the marketing research process?

Defining the problem Signup and view all the answers

In marketing, when does a problem occur?

When there is a gap between potential and actual performance Signup and view all the answers

What is the definition of a marketing opportunity?

A potentially favorable circumstance for successful performance Signup and view all the answers

What happens if a problem is defined incorrectly in the marketing research process?

The rest of the research process will be fundamentally flawed Signup and view all the answers

What do some firms rely on to renew their life cycles and stay competitive?

Innovations Signup and view all the answers

What is the role of a symptom in management?

To help managers recognize problems Signup and view all the answers

Can the symptoms be verified by other factors identified in the situation analysis?

It depends on the nature of the symptoms and the situation analysis Signup and view all the answers

What are decision alternatives in the context of management?

All the marketing actions that may resolve the problem Signup and view all the answers

What is the purpose of determining the probable cause of the symptom(s)?

To identify the most likely factors giving rise to the symptom(s) Signup and view all the answers

Why is it important to develop a problem statement in management?

To provide a concise description of the problem or opportunity Signup and view all the answers

What is the first step in the marketing research process?

Establishing the need for marketing research Signup and view all the answers

When do managers need marketing research according to the text?

When the cost of information outweighs its value Signup and view all the answers

At which step do managers define the problem in the marketing research process?

Step 2 Signup and view all the answers

What is a caveat mentioned about the marketing research process?

Not all studies use all 11 steps Signup and view all the answers

In what circumstances does the need for marketing research arise?

When managers need to make decisions with inadequate information Signup and view all the answers

What does Step 3 of the marketing research process involve?

Establishing research objectives Signup and view all the answers

What does Step 6 of the marketing research process involve?

Determining methods of accessing data Signup and view all the answers

What is mentioned as a reason for not needing marketing research?

Managers have abundant information Signup and view all the answers

"The need for marketing research arises when managers must make decisions and they have inadequate information." Which step in the marketing research process does this statement emphasize?

Step 1: Establish the need for marketing research Signup and view all the answers

What does Step 11 of the marketing research process involve?

Analyzing data Signup and view all the answers