“The basic purpose of
marketing research is to facilitate decision making process”
Yes, that statement is accurate. The basic purpose of
marketing research is to provide information and insights that help inform and
guide decision making processes within an organization. Marketing research can
help organizations better understand their customers, the market, and the
competition, and use this information to make informed decisions about their
marketing strategies, product development, and distribution. By providing
organizations with a deeper understanding of their market and customers,
marketing research helps them make more informed decisions, minimize risks, and
ultimately improve their chances of success.
What is the basic purpose of marketing
The basic purpose of marketing is to understand and meet the
needs and wants of customers in order to satisfy them and achieve the goals of
the organization. The marketing process involves identifying and analyzing
market opportunities, researching and understanding customer needs, developing
and promoting products and services, and managing relationships with customers
to create long-term value. The ultimate goal of marketing is to create and
maintain a loyal customer base by offering products and services that meet
their needs and wants, and building strong relationships with them. By doing
so, organizations can increase their sales and profits and achieve their
overall business objectives.
What is the decision making processs
The decision making process refers to the steps that
individuals or organizations go through to identify and choose a course of
action to solve a problem or take advantage of an opportunity. The decision
making process typically includes the following steps:
- Identify the problem or opportunity: The first step in the decision making process is to identify the problem or opportunity that needs to be addressed.
- Gather information: In this step, information is gathered about the problem or opportunity and about the possible courses of action.
- Evaluate options: The information gathered is then used to evaluate and compare the different options for addressing the problem or opportunity.
- Make a decision: Based on the evaluation of the options, a decision is made about the best course of action to take.
- Implement the decision: Once a decision has been made, it must be implemented. This may involve taking specific actions, such as making purchases, creating marketing plans, or changing organizational policies.
- Evaluate the outcome: After the decision has been implemented, it is important to evaluate the outcome and determine whether the desired results were achieved. If the outcome was not what was expected, the decision making process may need to be repeated to find a better solution.
The decision making process can be formal or informal,
structured or unstructured, and may involve individuals, groups, or
organizations. The process may vary depending on the complexity of the problem
or opportunity, the resources available, and the level of risk involved.
What is the role of marketing of decision making process
Marketing plays a crucial role in the decision making process
by providing organizations with the information and insights they need to make
informed decisions about their marketing strategies, product development, and
distribution. By conducting market research and gathering data about customer
needs, preferences, and behaviors, marketing provides organizations with
valuable information about their market and customers that can help inform
their decisions. Additionally, marketing may also provide information about the
competition, industry trends, and regulatory environment, which can help organizations
make better decisions about how to position themselves in the market.
In the product development stage, marketing can provide
information about customer needs and preferences, as well as market trends and
competitor activities, to help organizations determine what products or
services to develop and how to differentiate them from their competitors.
In the distribution stage, marketing can help organizations
determine the best channels for reaching their target customers, as well as the
most effective pricing strategies to use.
In the promotion stage, marketing can help organizations
determine the most effective messages and media to use to reach their target
customers and build awareness and interest in their products or services.
Overall, the role of marketing in the decision making process is to provide organizations with the information they need to make informed decisions about their marketing strategies, and to help them understand and meet the needs and wants of their customers in order to achieve their goals.
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