Which of the following organizations are likely to use marketing research? Why? How?

Kelloggs

Waygo

Fastenol

The Federal Trade Commission

Mayo Clinic

Cengage

Google

KNOW WHAT MARKETING RESEARCH IS AND WHAT IT DOES FOR . BUSINESS. Marketing research is the application of the scientific method in searching for the truth about market and marketing phenomena. Research applications identify and define marketing opportunities and problems, generate and evaluate potentially innovative marketing ideas, monitor marketing performance, and describe the way consumers extract value from consumption. Thus, it is the intelligencegathering function in business. This intelligence assists in decisions ranging from longrange planning to nearterm tactical decisions. Although many business decisions are made \"by the seat of the pants\" or based on a manager's intuition, this type of decision making carries with it a large amount of risk. By first researching an issue and gathering intelligence on customers, competitors, and the market, a company can make a more informed decision. The result is less risky decision making. 2. MARKETING RESEARCH. Applied marketing research seeks to facilitate managerial decision making. Basic or pure research seeks to increase knowledge of theories and concepts. Both are important. Applied research examples are emphasized in this text although practically all of the tools and techniques that are discussed are appropriate to either type of research. Some use the term market research to refer to applied research and marketing research to refer to basic research. UNDERSTAND HOW THE ROLE OF MARKETING RESEARCH CHANGES 3. WITH THE ORIENTATION OF THE FIRM. Every company has a particular operating orientation. Productionoriented companies emphasize producing outputs as efficiently as possible. Generally, this leads to an emphasis on lowcost production and low-cost positioning in the marketplace. Productoriented companies emphasize producing a sophisticated product that is also technologically advanced. Firms that are oriented around the marketing concept become very consumer oriented. Market-oriented rms View all employees as customers who need marketing intelligence to make good decisions. Stakeholder oriented companies try to balance concerns of all internal and external constituencies, including consumers. Marketing-oriented and stakeholder oriented companies tend to do more marketing research and emphasize marketing research more than do