It was interesting to learn about marketing research tonight and what all is involved therein. Marketing research has obviously evolved with all of the other aspects of marketing over the years. I thought that the decision support system must be a valuable tool to those who use it and the people who never had one, wish they would have. It is an computerized system that you can change the information as you go, to see the outcome of certain marketing decisions. What an invaluable tool that must be.
I further thought that just the steps of a marketing research project were extremely extensive.
- Identify the problem
- Plan research design
- Select sampling procedures
- Collect data
- Analyze data
- Prepare and present the report
- Follow-up
Each one of these steps has smaller steps within itself. These steps look more like steps for a scientific experiment than a marketing research plan, but I guess in the end they are really not all that dissimilar. I found it fascinating to learn all the different way and approaches to conducting marketing research.
Technology appears to once again be at the forefront. Overall, I think technology is a great tool for us to use, but I do not think the time has come to eliminate the more personal interactions. It is amazing to see how much information can be gleaned and used from simple input over time, and how it can make a company thrive in an ever-competitive world.
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