Marketing Research Problem

1. What is a marketing research problem, and why it is important to define it correctly? Marketing research problem is a situation that one company wants to sell their product to reach a goal. Defining the marketing research problem is the most important step in a research project. This task often is made more difficult because of the tendency of managers to focus on symptoms rather than underlying causes. Only when a problem has been clearly and accurately identified can a research project be conducted properly. This is because problem definition sets the course for the entire project.

2. What is the distinction between the marketing research problem and management decision problem? Marketing Research Problem
* Asks what information is needed and how it should be obtained * Information oriented
* Focuses on the underlying causes
Management Decision Problem
* Asks what the decision maker needs to do
* Action oriented
* Focuses on symptoms

3. Describe at least two(2) methods for making marketing research more actionable. Clear goal and monitoring could make marketing research more actionable. Clearly defined objectives and a commitment to action are the foundation for achieving action.

Internal sponsor like senior decision maker is also a great method for making marketing research more actionable. Talk to the most senior decision maker. The senior decision maker wanted to know whether version A or B would gain a bigger share of the market. The research did a great job of exploring the boundaries of the market, defining customer segments and their needs, and identifying likely competitors. But senior decision maker found the research largely irrelevant, because it did not tell him whether to go with version A or B. And also, some programs like SPSS, SAS, Minitab, and Excel make marketing research more actionable. We illustrate the use of those programs for defining the problem, developing an approach, formulating the...