Introduction (L1) Flashcards
Define Marketing Research
an application of the scientific method in searching for the truth about marketing phenomena.
What are the 2 important restraints to marketing research
Time Pressure & Financial Cost
What are the 6 steps of the marketing research process
Define the problem - develop Research approach - develop research design - fieldwork or data collection - data integrity and analysis - communicate research findings
What is basic marketing research
conducted without a specific decision in mind that usually does not address the needs of a specific organization.
What is applied marketing research
conducted to address a specific marketing decision for a specific firm or organization.
What is the scientific method for research
Use prior knowledge and observations to create a hypothesis, then test the hypothesis, and form a conclusion
What is research purpose
Problem identification & Problem solving
What is problem solving
Research undertaken to solve specific marketing problems
What is problem identification
Research that is undertaken to help identify problems that aren’t necessarily apparent on the surface and yet exist or are likely to arise in the future
