Business Studies, asked by asthaankita9243, 1 year ago

Distinguish between a management decision problem and a management research problem

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Problem Definition Process
Provides guidelines on how to correctly define the marketing research problem


- Because problem definition sets the course of the entire project

- Because the client is paying for the research so both need to know what to expect

- Because mistakes made at this level grow into larger, more expensive mistakes later on.

- All the effort, time and money spent from this point on will be wasted if the problem is not properly defined.
Why is it important to clearly define the management decision problem?


Define the Marketing Research Problem
A statement of the information needed by a decision maker to help solve a management decision problem.


Narrowly Defined
Marketing research problem has to be __________


-Find out why the information is being sought.

-Determine whether the information already exists.

-Determine whether the question really can/should be answered.

-Use exploratory research to define background of the problem
**Situation analysis
**The iceberg principle

-Determine relevant variables
Tips for Accurately Defining Research Problems


Marketing Research Objectives
the specific bits of knowledge that need to be gathered to close the information gaps highlighted in the research problem.


Marketing Research Objectives
Serve as a standard to evaluate the quality and value of the research


Specific and Unambiguous
Objectives should be ___________


-Understand and define the managerial decision problem/opportunity

-Translate into research objective(s) (what information is needed)

-Pose the right research questions

-State questions in terms of hypotheses
Problem Formulation and Approach


Management Decision Problem
It asks what the Decision Maker needs to do


Marketing Research Problem
It asks what information is needed and how it can be obtained effectively and efficiently.


Marketing Research Objective
It is a restatement, in general terms, of what management needs to know to make a decision
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