MARKET RESEARCH IN MARKETING SIMULATIONS

Catalin Gradinaru, Sorin-George Toma and Stefan-Alexandru Catana
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Catalin Gradinaru: FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA
Sorin-George Toma: FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA
Stefan-Alexandru Catana: FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA

Annals - Economy Series, 2022, vol. 4, 77-81

Abstract: Marketing simulations have been a vital tool in nowadays’ digitized world as they help users become more familiar with some marketing concepts and tools that contribute to a better decision-making process both in simulations and in real life. The scope of the paper is to portray some of the main market research tools and reports that are used in the Markstrat by StratX marketing simulation, such as industry benchmarking, consumer survey and panel, distribution panel, semantic scales, multidimensional scaling, competitive intelligence, experiments, market forecasting and conjoint analysis. In relation to this aspect, the methodology used was based on the research of secondary sources such as articles and books. The findings show that the market research components are useful for any stakeholder who wants to take more informed and better marketing decisions.

Keywords: marketing simulations; market research; market research tools; Markstrat (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2022:v:4:p:77-81

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