In a short essay, discuss the differences between a management decision problem and a marketing research problem

What will be an ideal response?

The management decision problem asks what the decision maker needs to do, whereas the marketing research problem asks what information is needed and how it can best be obtained. The management decision problem is action-oriented, framed from the perspective of what should be done, and focuses on the symptoms concerned with the underlying causes. It asks questions such as "How should the loss of market share be arrested? Should the market be segmented differently? Should a new problem be introduced? Should the promotional budget be increased?" In contrast, the marketing research problem is information-oriented. Research is directed at providing the information necessary to make a sound decision. The marketing research problem focuses on the symptoms concerned with the underlying causes. Examples of this type of problem include the determination of the effectiveness of the current advertising campaign and the determination of the impact on sales and problems of various levels of price changes.