MARNE RESZARH

(There are many alternative courses of action Spectying the Objecttves

which are to be taken into account after identification The first step in the deciaion making process
of problem or opportunity. Based on the certain
criteria, these alternatives are analysed. Analysis is is to specify the objectives or goals of organization.
Carried out to choose the best 'course of action. The Based on these objectives, the decisions are talken by
role ofmarketing research at this stage is to assist the managers for attaining the set objectives.
organization in analyzing the alternatives. It provides 2. Determining Pertormance Potental
the necessary information to compare the alternatives
which can be utilized for resolving a problem and the In the next step, problems are further identified
the
alternative approaches to an opportunity. by measuring the company's performance. If
company's objectives are not attained, it displays
Role of Marketing Research In existence of problem areas. Opportunities for further
Implementatlonof the Course of Action growth arise when the company's potential to attain
After determining the best course.of action, its objectives exceeds.
the,organization should implement it succeasfully. 3. Identifying the Problem/Opportunity to
The role of marketing research at this stage is to be Pursued
control and monitor the programmes which are
beingimplemented. During this stage, the evaluative In this step, the management collects adequate
research studies are undertaken. Performance research information required for research and processes
is one of the evaluative research study. This research the. information to identify the problem. It is very
evaluates the performance of a specific activity by important for managers to diagnose the real problem
imeasuring the performance against theset objéctives. in the situation as this helps in resolving the problem
taking an effeçtive decision..
Q15. Define Marketing Research. Explaln and easily and
discuss importance of decisionimaking Generating Alternatives
inresegrch and.steps to befollowed for After, identifying and defËning the actual
alective deci_ion making prÌcess.
problem, the manager has to gather Cessary
AnSWer : (Model Paperl, Q2(a) MaylJune:18, Q2(a)) information about the problem. Based on the gathered
Marketing Research information, the manager can generate alternatives
Philip Kotler defined Marketing Research as to solve a problem by analyzing it thoroughly. This
It's a systematic problem analysis, model building information also helps in anticipating the results for
each alternative. The manager has to find maximam
and fact finding for improyeddecision making and possible alternatives, which ate available to resolve
control in marketing of good and services". the problem. The alternatives should be clear,
According to L. W. Taylor, Itmay bedefined understandable and specific and should be able to
as application of scientific method to solution ofproduce the best solution for the problem identified.
marketing problem."
lmportGnce of Research In Decision Making 5. Selection of the Best Alterngttve
For answer refet Unit-1; Page No.QNO,14.selecting In this step, the äctual ecision is made by
the.best course of action from the various
Eifecttve Decislon Making alternatives, The managers mostly make use ofthree
The process of (decision making deals with a approaches for 'selcting the bestalternative, Thege
series of activities which results in: the best solution PPproaches are as follows,
roblem. An:effective deçision making proçess )EXpermentatton h
inVolves seyen.steps whichjare as follows, it iRi
In this approach, the manageriselects the
411: Specifying the bbjectives best alternative by testing all the proposed
2. Determining performance potential alternatiye courses ofaction:
3. Identífying and definingthe problem (ù) Experlence
4. Generating alternatives In this approach, the manager selects the
5.: Selection ofth best alternative best alternative based on his past experience.
6. The degree of success depends on the
Implementation of the action and experience. of the manager in selecting the
7. EvaluatiFg the re_ults. bestialternative.. gia
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