Category: principles and practices of marketing

Completeness – it should not leave out important details or procedures of the research. Accuracy – it should report the exact findings of the research without exaggeration. Clarity – should be clear in terms of sentences, expressions and explanations used. Read More …

Definition and identification of research problem: The research problem must be identified clearly and precisely i.e. it must not be ambiguous (contradictory). Determination of the sources of information: It includes both primary and secondary data sources. Determination of data collection Read More …

 1. Exploratory research design This is the most appropriate when there is little or nothing known about a phenomena of study and there is need to gain insight and ideas about a problem e.g. customer surveys to find out customer Read More …

Primary data-this is the information at hand and collected for the first time. Secondary data-this is data available or gathered(collected and analyzed by someone else; published materials, reports, journals and books Methods of Primary Data Collection 1. Observation – it Read More …

Primary data-this is the information at hand and collected for the first time. Secondary data-this is data available or gathered(collected and analyzed by someone else; published materials, reports, journals and books

This is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. There is a design of an interview guide and a questionnaire. Marketing research is based on specific and Read More …

Training and motivating the sales force to identify and report new developments. Motivating retailers and distributors to report important intelligence. Monitoring competitors activities Setting up a customer’s advisory panel made up of representative customers or the company’s largest customers so Read More …

INTERNAL RECORD SYSTEM This consists of information gathered from sources within the company which helps to evaluate the marketing performance and identity marketing problems and opportunities. The records include; Profit and loss statement. Balance sheet. Sales record Employee record. Cash Read More …

The marketing environment is changing at a very fast rate hence there is need for real time and up to date market information. In today’s information based society, companies with superior information enjoy a competitive advantage. Marketing information systems- is Read More …

1. Impact on individual consumers-this arises due to; High prices due to; high costs of distribution, high advertisement and promotion costs and excessive markups. Deceptive practices; i.e. deceptive pricing, deceptive promotion and deceptive packaging. High pressure selling tactics being adopted Read More …