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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2122 |
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Organization needs MR to monitor the efficacy of its strategy in achieving the objectives.
Hence, this study would like to test the hypothesis that: The magnitude of risks can be reduced considerably by following a rational procedure in marketing research which a) a sufficiently large number of good-quality alternatives, whether mutually exclusive or otherwise, is generated for consideration, b) reliable and adequate information is gathered about each alternative including its sub-options, and c) the sub-options and the alternatives are subjected to systematic and objective evaluation in relation to technical, economic, financial, and other pertinent parameters for selection of the best course of action...
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The usefulness of the marketing research output will depend upon the way the research has been designed and implemented at each stage of the process. There are five steps in every marketing research process:
- Problem definition
- Research design
- Field work
- Data analysis
- Report presentation and implementation
i) Problem Definition: A problem is any situation which requires further investigations...
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