Market Research Process Flashcards
Marketing Symptoms
problem organization is facing
ex. declining market share, increase number of complaints
Marketing Opportunities
exploring potential of changes to marketing mix
ex.
increase online sales , integrate new technology
Marketing Mix (Independent Variable)
controllable product price promotion placement
Situational Factors (Independent)
uncontrollable
demand
competition
economic climate
Behavioral Responses (Dependent)
awareness
knowledge
preference
intent to purchase
Ambiguous
we know very little about the issues that need to be solved
Somewhat Defined
we know the issues and most of the variables that are important for solving the problems, but we don’t know how they are related
Clearly Defined
we know the issues, variables, and their relationships
Types of problems and Types of market research
Ambiguous —————————— Exploratory
Somewhat Defined ———————– Descriptive
Clearly Defined ——————— Causal
What are the branches of Research Design ?
Exploratory
Conclusive
- descriptive
- causal
Exploratory
facilitates problem recognition and definition
Descriptive
determines the degree of association between variables
Causal
through experimentation, gathers evidence on cause-effect relationship
Primary Data
data directly collected form main sources
-Research Design
Secondary Data
already existing data produced by other researchers
-Exploratory and Descriptive to help formulate hypothesis
