Defining the research problem (see also Cases 1-1 to 1-3)

Interact with the decision maker; Understanding the problem, not symptoms

Detailing research objectives; being specific & verbalizing/writing objectives

Deciding when to do research (see also Case 1-4)

Finding value of information & odds of improving decision by collecting more information through marketing research

Using decision theory

The payoff table - alternatives; states of nature; payoffs

Expected monetary value/utility value etc.

Prior analysis - Evaluating alternatives without further research

Expected monetary value of perfect info. - evaluation of alternatives with certain

information about states of nature (i.e., perfect mktg. research)

Preposterior analysis - Evaluating alternatives & decision to do research based

on possible findings of research

Benefits: Systematizing decision process & forcing yourself to put down

information

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