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National Institute of Business Management
Chennai – 020
THIRD SEMESTER MBA
Subject : Management Research
Question.1 Explain the purpose of market research.
Answer: Marketing research is a form of business research. and Business-to-Business (B2B) Marketing Research, or Business Marketing Research, previously known as Industrial Marketing Research.B2B Marketing Research investigates the markets for products sold by one business to another, rather than to consumers. Market research is the process of
Question 2. What are the advantages of Marketing Decision Support System (MDSS) ? Explain.
Answer: Marketing is very much concerned with satisfaction of customer needs through better products and services. Marketing starts with the customer needs and ends with products to satisfy these needs. Unless these needs and wants of the customers are assessed, products cannot be designed to suit the requirements and ultimately to the satisfaction of the customers.
Manufacturers of all products are running their own race, a race that never seems to end. Now a day, markets are flooded with different products and services from a large number of companies. The buyers have become choosy. In this dynamic environment, the company has to continuously change its plans and strategies to suit the changes taking place in the environment.
These aspects of marketi
Question 3. Explain the basic steps by which marketers plan and conduct marketing research.
Answer: Marketers plan and conduct marketing research by the following five basic steps. They define the problem, formulate a hypothesis, design the research, collect the data and interpret the findings for presentation to the management. These steps are explained below:
(i) Define the problem
A clear description of the marketing problem being researched is the first step. When a marketing research is undertaken, the researcher knows that there is a problem that must be solved. But the focus should be narrowed. Each problem
Question 4. Explain the two levels at which marketing research must be evaluated and controlled.
Answer: Market research is the process of systematic gathering, recording and analyzing of data about customers, competitors and the market. Market research can help create a business plan, launch a new product or service, fine tune existing products and services, expand into new markets etc. It can be used to determine which portion of the population will purchase the product/service, based on variables like age, gender, location and income level. It
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