Chapter 8 Flashcards
Marketing Research
The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
Define the Problem
Step #1
Set Research Objectives
Identify possible marketing action
Develop a Research Plan
Step 2
Specify constraints
Identify data needed for marketing
Determine how to collect data
Collect Relevant Information
Step 3
Obtain secondary data
Obtained primary data
Develop Findings
Step 4
Analyze Data
Present the findings
What Marketing Question Did We Come Up With in Class?
Which Flavor Do You Prefer
Take Marketing Action
Step 5
Make action recommendations
Implement action implementations
Evaluate Results
Measure of Success
Criteria or standards used in evaluating proposed solutions to the problem.
Specify Constraints
Are, in decision, the restrictions placed on potential solutions to a problem
Data
Facts and Figures related to the project that are divided into main parts; secondary data and primary data
Secondary Data
The facts and figures that have already been recorded prior to the project at hand.
Primary Data
Facts and Figures that are newly collected for the project.
Observational Data
Facts and Figures obtained by watching, either mechanically or in person, how people actually behave.
Questionnaire Data
The Facts and Figured obtained by asking people about their attitudes, awareness, intentions, and behaviors
Informational Technology
Involves operating computer networks that can store and process data
