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Nick Thomas should use marketing research to understand why his company Global Motors is losing market share and to predict consumer behavior. Marketing research will help him collect data to analyze and make decisions on what moves the company needs to make. Nick will also need to use all four components of the marketing information system - the internal reports system, marketing intelligence system, decision support system, and marketing research system - to make an informed decision. Additionally, Nick should review sales records, purchase orders, and invoices from his internal supplier to see which vehicles are top sellers and which market segments are buying them, but should also gather external information on consumer interests in fuel efficiency and emissions.
Nick Thomas should use marketing research to understand why his company Global Motors is losing market share and to predict consumer behavior. Marketing research will help him collect data to analyze and make decisions on what moves the company needs to make. Nick will also need to use all four components of the marketing information system - the internal reports system, marketing intelligence system, decision support system, and marketing research system - to make an informed decision. Additionally, Nick should review sales records, purchase orders, and invoices from his internal supplier to see which vehicles are top sellers and which market segments are buying them, but should also gather external information on consumer interests in fuel efficiency and emissions.
Nick Thomas should use marketing research to understand why his company Global Motors is losing market share and to predict consumer behavior. Marketing research will help him collect data to analyze and make decisions on what moves the company needs to make. Nick will also need to use all four components of the marketing information system - the internal reports system, marketing intelligence system, decision support system, and marketing research system - to make an informed decision. Additionally, Nick should review sales records, purchase orders, and invoices from his internal supplier to see which vehicles are top sellers and which market segments are buying them, but should also gather external information on consumer interests in fuel efficiency and emissions.
Case 1.2 The Integrated Case: Global Motors 1. Nick Thomas should use marketing research to understand why his company is losing market share and to predict consumer behavior. By using marketing research, Nick will be able identify the problem and find new opportunities for Global Motors. Marketing research will help him collect the necessary data for him to analyze and make a decision on what moves his company will need to make. 2. Nick Thomas will need all four components of the MIS to make his decision. The internal reports system will gather information generated by internal reports such as sales costs, inventories, cash flow, etc. Marketing intelligence systems will collect everyday information about relevant developments in the environment. The DSS is collected data that will be assessed and analyzed by using tools and techniques that will help managers in decision making. Last but not least the marketing research system will collect data and solve specific marketing problems. Case 2.2 1. Yes, Nick Thomas own internal supplier could furnish sales records, purchase requisitions and invoices for review to see which vehicles are top sellers. This information may also give insight into which market segment is purchasing which vehicle. However, in addition to using his own internal supplier, Mr. Thomas will need to gather information on consumer interest in fuel efficient vehicle, global warming and gas emission or use secondary information collected by another party. 2. Yes. As a member of the MRA, you are required to review and commit to the Code as part of your membership application and annual membership renewal. Article II Responsibility to Client and Vendors, #19 dictates the commitment to privacy, one must maintain a trusted relationship with clients and research sponsors by keeping confidential all sensitive or proprietary research techniques, methodologies and business information. Also #23 highlights conflict of interest, real or perceived, in accepting work from multiple clients, particularly clients in competing or similar markets or lines of business. If any conflict of interest real or perceived- exist, the member will notify all parties of the conflict and obtain acknowledgement of the conflict and written confirmation to proceed. Failure for any member to not adhere to the Code will result in sanctions, including publicized expulsion from the association.