Question

differences between management problems and research problems

Answer 1

Answer:

Management Decision Problem

The management decision problem asks what the DM needs to do, whereas the marketing research problem ask what information is needed and how it can best be obtained.

• Research can provide the necessary information to make a sound decision.

• The management decision problem is action oriented.

It is concerned with the possible actions the DM could take.

• How should the loss of market share be arrested?

• Should the market be segmented differently?

Marketing Research Problem

The marketing research problem is information oriented. It wants to determine what information is needed to make the best decision.

• It involves determining what information is needed and how that information can be obtained effectively and efficiently.

• Whereas the management decision problem focuses on symptoms, the marketing research problem focuses on underlying causes.