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Importance of marketing research.

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Please choose one of these topics:
•The importance of marketing research
•Defending the practice of social media marketing

Have a title page, and attach a Microsoft Word document with your thread, in addition to the normal discussion board.
•In at least 600 words, discuss your topic by addressing the following items:
◦Explain the concept of the marketing management topic selected for your paper (Your textbook is a good source for this item). ◦Examine at least 1 practical application/example for your topic.
◦Formulate a question about your topic that your classmates will respond to.
◦Have a separate heading for each of these 3 sections.

Kotler, P. T., & Keller, K. L. (2016). Marketing management (Custom 15th ed.) please use this textbook and 2 more references to quote through essay.

Must be in APA format.

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Solution Summary

Marketing research is an important tool of marketing management. The results obtained from marketing research will serve as inputs in marketing decisions. Specific decisions include decisions on product, price, channels of distribution, and promotions. Among the questions that will be answered through marketing research are questions on: What product features should be in a product offering?; What pricing strategies must be utilized?; and what is the most effective product packaging?

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Please refer to the attached file for the response.

THE IMPORTANCE OF MARKETING RESEARCH

What is marketing research?
Burns and Bush (2003) define marketing research as the process designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem. Among the marketing problems include determining the product features that meet the preferences of buyers, determining price, identifying effective promotional and distribution strategies.
The American Marketing Association further defines marketing research as the function that links the consumer, the customer, and the public to the marketer through information. These data are important because they are used to identify and define marketing opportunities, and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve the understanding of the marketing process.
Marketing research is conducted using the following steps:
• Define the Problem. This is the need that must be addressed through research.
• Develop an Approach to the ...

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  • Master in Business Administration, Saint Mary's University
  • Doctor of Philosophy in Education, University of the Philippines
  • Doctor in Business Adminstration (IP), Polytechnic University of the Philippines
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