In a short essay, discuss the differences between problem-identification research and problem-solving research. Include a description of situations in which each type of research would be most appropriate
What will be an ideal response?
Problem-identification research involves going below the surface to identify the true underlying problem that the marketing manager is facing. It may be designed to estimate market potential, market share, brand or company image, market characteristics, sales analysis, short-range forecasting, long-range forecasting, or to uncover business trends. Problem identification is the more common of the two forms of research and is undertaken by virtually all marketing firms. This type of research is used to assess the environment and diagnose problems. Once a problem or opportunity has been identified, a firm undertakes problem-solving research to address the problem. Problem-solving research addresses many topics, including segmentation, product, pricing, promotion, and distribution. Problem-identification research and problem-solving research go hand in hand, and a given marketing research project may combine both types.
You might also like to view...
A bank offers credit cards with a 25 percent interest rate, when its competitors' cards have just a 15 percent interest rate. Despite the high rate, the bank finds itself losing money because many of its customers fail to repay the balances on their cards. The bank's losses are most likely to have occurred because of
A. bad management. B. the lock-in effect. C. redlining. D. adverse selection.
What did Selman & Saks hope to gain by entering the French market?
A) access to new consumer markets B) access to less expensive labor C) access to less expensive materials D) access to foreign investment incentives E) the ability to offset domestic economic cycles
The provisions of the Communications Decency Act were deemed unconstitutional as they repressed the speech that adults have the right to make
Indicate whether the statement is true or false
Recommendations should be phrased as ________ (beginning with verbs)
Fill in the blank(s) with correct word