Introduction, Overview of Marketing Research Process (2) Flashcards
How can a firm know what consumers need?
Marketers need data to know how customers feel about products, to understand customer buying behaviors, or to identify opportunities.
Marketers need _______ to know how customers feel about products
data
Marketeers need data to…
- know how customers feel about products
- understand customer buying behaviors,
- to identify opportunities.
Marketers need data to _______ opportunities.
identify
When accurate and current customer data exist, marketers can ______ them to better compete.
exploit
Why would a marketer want to use customer data?
to better compete
Customer data must be _______ and _______.
accurate, current
Whats the problem with finding customer data?
the problem is that the data that could reveal these customer insights often aren’t found in company databases and sometimes may not even exist.
What should a marketer do when customer insights aren’t found in company databases?
In these instances, marketers need to get the information from customers, so the marketing team conducts marketing research.
What is marketing research?
Marketing research is the process of collecting and analyzing information from and about consumers to influence marketing strategy and decisions.
Marketing research is the process of _______ and ________ information from and about _______ to influence marketing strategy and decisions.
collecting, analyzing, consumers
What are the 4 steps of the marketing research process?
Step 1. Gaining Consumer Insight
Step 2. A Focus on Exploratory Research
Step 3. A Focus on Conducting Surveys
Step 4. Final Marketing Research Thoughts
Organize the steps
- Final Marketing Research Thoughts
- A Focus on Conducting Surveys
- Gaining Consumer Insight
- A Focus on Exploratory Research
Step 1. 3
Step 2. 4
Step 3. 2
Step 4. 1
