MKTG 390 Midterm 1

A business philosophy based on consumer orientation, goal orientation, and systems orientation.

The identification of and focus on the people or firms most likely to buy a product and the production of a good or service that will meet their needs most effectively.

A focus on the accomplishment of corporate goals, a limit set on consumer orientation.

The creation of systems to monitor the external environment and deliver the desired marketing mix to the target market.

The gathering and presentation of statements of fact.

Diagnostic Function – The explanation of data or actions.

Specification of how to use descriptive and diagnostic research to predict the results of a planned marketing decision.

Management objective based on the principles that (1) the quality being delivered is at a level desired by the target market, and (2) that level of quality must have a positive impact on profitability.

– Research aimed at solving a specific, pragmatic problem – better understanding of the marketplace, determination of why a strategy or tactic failed, or reduction of uncertainty in management decision making.

Research aimed at expanding the frontiers of knowledge rather than solving a specific, pragmatic problem.

– Research conducted to develop marketing options through market segmentation, market opportunity analyses, or consumer attitude and product usage studies.

Research used to test decision alternatives.

Research done to assess program performance.

Preliminary research conducted to increase understanding of a concept, to clarify the exact nature of the problem to be solved, or to identify important variables to be studied.

A statement specifying the type of information needed by the decision maker to help solve the management decision problem and how that information can be obtained efficiently and effectively.