Research_350_Notes_Feb_08

Research_350_Notes_Feb_08 - Hypotheses unproven guesses...

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Marketing Research
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Marketing Research Old School Approach = gut/intuition rules New School Approach = information rules Information enables marketers : to make better decisions to tap into consumers’ hidden needs & wants
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Marketing Information System (MIS) MIS converts raw data into standard reports (e.g., sales per territory) MIS makes data accessible, caveats apply : data may be difficult to interpret data overload is possible
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Decision Support System (DSS) DSS enables marketers : to conduct “what if analysis” = ability to adjust variables to reveal marketing relationships = allows for prediction Caveat: DSS => hungry for more info!
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What Is Marketing Research? “The bridge of information linking marketers and consumers” Suppliers: Advertising agencies (J. Walter Thompson) Research firms (Burke) Universities (University of Maryland)
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The Scientific Method Demands objective focus Requires ideas are tested before acceptance Is guided by the search for truth
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Unformatted text preview: Hypotheses unproven guesses about phenomena that are of interest to the marketing researcher Cross-sectional data = static quality Longitudinal data = temporal quality Secondary Data information that already exists Secondary data concerns: relevant accurate current impartial Primary Data information collected for a specific problem uses statistical inference; expensive Primary data concerns: approach contact sample instruments Exploratory Research Qualitative research seeks in-depth, open-ended responses attempts to gain insight ability to discover the unforeseen Focus Groups Advantages spontaneity, subjectivity, synergy, speed moderator taps emotions & assumptions Disadvantages difficulty to generalize findings results depends on moderator’s expertise Survey Research Quantitative research describes market phenomena uses statistics; closed-end responses...
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This note was uploaded on 04/11/2008 for the course BMGT 350 taught by Professor Boyd during the Spring '08 term at Maryland.

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Research_350_Notes_Feb_08 - Hypotheses unproven guesses...

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