BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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obtain desired information immediately.
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limit their use of biographical databases.
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gain unrestricted access to statistical data.
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reduce the use of off-line data collection methods.
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Detailed explanation-1: -Surveys can be the cornerstone of effective marketing research as they offer a quick, cost-effective way to collect a large variety of data. Whether you use short questions, open or closed-ended questions, surveys often are the most efficient way to gather credible insights from your target population.
Detailed explanation-2: -A marketing information system, or an MIS, is a system for gathering, storing, analyzing and distributing valuable marketing data to help marketers make better decisions. The input of a marketing information system focuses on collecting relevant internal and external data to analyze and interpret.
Detailed explanation-3: -The internal records that are of immediate value to marketing decisions are: orders received, stockholdings and sales invoices. These are but a few of the internal records that can be used by marketing managers, but even this small set of records is capable of generating a great deal of information.
Detailed explanation-4: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.