Code of Ethics and Conduct I. Ethical conduct is an inherent obligation of our directors, officers and employees and, in furtherance of our commitment, we have adopted a Code of Ethics and Conduct to promote the high standards of ethical conduct we value. This Code does not cover every issue that may arise, but is intended to provide a basic summary of the legal, ethical and regulatory principles that should guide the conduct of all our directors, officers and employees. We encourage our directors, officers and employees to read all of our other policies in conjunction with this Code to gain a full understanding of their responsibilities.
But the perception of value is a subjective one, and what customers value this year may be quite different from what they value next year. As such, the attributes that create value cannot simply be deduced from common knowledge.
Rather, data must be collected and analyzed. The goal of marketing research is to provide the facts and direction that managers need to make their more important marketing decisions.
To maximize the benefit of marketing research, those who use it need to understand the research process and its limitations. Market Research These terms often are used interchangeably, but technically there is a difference. Market research deals specifically with the gathering of information about a market's size and trends.
Marketing research covers a wider range of activities. While it may involve market research, marketing research is a more general systematic process that can be applied to a variety of marketing problems.
The Value of Information Information can be useful, but what determines its real value to the organization? In general, the value of information is determined by: The ability and willingness to act on the information.
The accuracy of the information. The level of indecisiveness that would exist without the information. The amount of variation in the possible results.
The level of risk aversion.
The reaction of competitors to any decision improved by the information. The cost of the information in terms of time and money. The Marketing Research Process Once the need for marketing research has been established, most marketing research projects involve these steps: Define the problem Identify data types and sources Design data collection forms and questionnaires Determine sample plan and size Collect the data Analyze and interpret the data Prepare the research report Problem Definition The decision problem faced by management must be translated into a market research problem in the form of questions that define the information that is required to make the decision and how this information can be obtained.
Thus, the decision problem is translated into a research problem. For example, a decision problem may be whether to launch a new product. The corresponding research problem might be to assess whether the market would accept the new product.
The objective of the research should be defined clearly. To ensure that the true decision problem is addressed, it is useful for the researcher to outline possible scenarios of the research results and then for the decision maker to formulate plans of action under each scenario.
The use of such scenarios can ensure that the purpose of the research is agreed upon before it commences. Research Design Marketing research can classified in one of three categories: Exploratory research Descriptive research Causal research These classifications are made according to the objective of the research.
In some cases the research will fall into one of these categories, but in other cases different phases of the same research project will fall into different categories.
Exploratory research has the goal of formulating problems more precisely, clarifying concepts, gathering explanations, gaining insight, eliminating impractical ideas, and forming hypotheses.
Exploratory research can be performed using a literature search, surveying certain people about their experiences, focus groups, and case studies. When surveying people, exploratory research studies would not try to acquire a representative sample, but rather, seek to interview those who are knowledgeable and who might be able to provide insight concerning the relationship among variables.
Please upload a file larger than x pixels; We are experiencing some problems, please try again. You Status: Resolved. Detailed information concerning all degree requirements can be found by visiting The College of Business Undergraduate Advising web site..
Admission Requirements. Students entering UMSL may declare themselves as business majors in the College of Business Administration (COBA).
The Accounting Process Involves All Of The Following Except. Accounting Process The accounting process consists of a series of tasks often referred to as accounting steps. The process goes through cycles in which the same accounting steps are repeated during each accounting period. When filing Form , you must determine if the IRS has issued any new published guidance which includes revenue procedures, revenue rulings, notices, regulations, or other relevant guidance in the Internal Revenue Bulletin.
© ACCA All rights reserved. 1 Management Accounting (MA)/FMA September to August Guide to structure of the syllabus and Study guide.