Chapter 8: Decision Support System and Marketing Research

Chapter 8: Decision Support System and Marketing Research

Definitions:

Decision Support System (DDS)- an interactive, flexible computerize information system that enables managers to obtain and manipulate information as they are making decisions.

Marketing Research- the process of planning, collecting, and analyzing data relevant to a marketing decision.

The 7 Steps in a Marketing Research Project:

3 Sub categories of Marketing Research:

Descriptive- Gathering and presenting factual statements
Diagnostic- Explaining data
Predictive- “what if?”

I learned in this chapter how important research is. If a company doesn’t follow the marketing research process, it is likely that the company will lose money because they didn’t find most accurate way to advertise.

There are many types of surveys, including: telephone, mail, focus groups, in-home, and in the mall. They are each vital in their own way, depending on the product.