ch 5 Flashcards
market research vs marketing research
-investigating one of three components of the market (cx,comp,comp image)
-foucesd on assessing the effectiveness of a specific marketing mix or tactic
the marketing research process
- define the problem/opp
2.develop a research plan
3.collect data - analyze the data
- prepare and present findings
- create of an action plan
- define the problem/opp
can be short/long term
-focus on problem
2.develop a research plan
-primary objectives
-type of research (primary,secondary,qualitative,quantitative)
-info needed and how it will be collected
-how the data will be analyzed
primary data
-key adv + dis
info newly collected specfically for the research purpose
-relevance
-high cost and amount of time req
secondary data
-key adv/dis
data the already exists collected for another purpose that can be used to address the research problem
-less costly and quicker
-relevance both in terms of context and timliness
- collect the data
type of data needed and how it is collected will depend on the goal and type of research
exploratory research
research that seeks to discover ideas and insights related to a problem or opportunity
descriptive research
research that answers questions about who, what, when and where something happened. It will also answer the questions how much and how many
causal resarch
research the seeks to determine the effect of one variable on another
ethnographic research
observe people in a naturak setting ti gain a deeper understanding if what makes people do what they do
qualitative research
used to count, classify and measure things
-often used to assess the relative importance of something in which the marketer is interested
quantitative research
surveys,experiments,analytics
data mining
sorting through data
marketing analytics
gain insights on cx, opps