The Acceptance of a Multinational Philosophy of Business Research Paper

The Acceptance of a Multinational Philosophy of Business - Research Paper Example Disney should use advertising research and brand equity research, demand estimation and buyer decision research. As a basis of gaining intelligence, marketing research can be wasteful as well as useful. Besides limiting risk, marketing research is itself a genuine business risk, but one that must be undertaken. To have the best chance of success, it must be conducted by people who have a solid understanding of company needs as well as the needs of customers. It requires effective communication between top management and the research staff, and a management willing to overcome biases and predispositions in order to institute programs based on research findings (Hollensen, 2007). The utilization of computer technology, coupled with better research techniques, has greatly increased the facts available. But large masses of data can also prove to be disruptive. Managers can be inundated with facts. Marketing management is thus challenged to develop an integrated marketing information syst em to provide the intelligence and knowledge required for both short-term marketing goals and longer-range company needs, in order to eliminate unnecessary data. In addition to marketing research in any company, related manufacturers, retailers, wholesalers, marketing research agencies, advertising agencies, trade associations, governmental agencies, universities, financial institutions (including banks), and chambers of commerce all provide useful research data and information for solving marketing problems. For instance, research agencies buy the data from supermarket chains and in turn sell data on the movement of food items through chain stores and their warehouses.