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Chap%202%20Hair0 - Overview of Marketing Research Process...

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Unformatted text preview: Overview of Marketing Research Process (HWOB Chap. 2) The Need to Conduct Primary Market ResearchAlways??? Steps/Decisions in Conducting Marketing Research Marketing Research in Action: Determining the Need for the Research Process Ah, a marketing problem! Do I need to conduct primary marketing research? Somebody hep* me! *Southern for help Situations when primary research might not be needed Managerial background and experience with respect to the issue is high Secondary information already available Insufficient time frames Inadequate resources Costs outweigh value Remember the key concepts of marginal cost and marginal revenue from your economics class? We must consider if the expected value of research information* will exceed the cost of the research information. If yes, do the research. If no, dont do the research. *related to how much uncertainty will be reduced and how much is riding on the decision Overview of Marketing Research Process (HWOB Chap. 2) The Need to Conduct Primary Market ResearchAlways??? Steps/Decisions in Conducting Marketing Research Marketing Research in Action: Phases of the Information Research Process (Exhibit 2.2 and essentially an outline for this course) Phase I Determine the Research Problem Phase II Select Appropriate Research Design Phase III Execute the Research Design Phase IV Communicate the Research Results Continuum of Ambiguity in Research Problems Causal Causal Research Research Three Different Research Designs ( Design might be an oxymoron with respect to exploratory research ) Descriptive Descriptive Research Research Exploratory Exploratory Research (used in Research (used in steps 1-3* to structure steps 1-3* to structure problem) problem) *see Exhibit 2.4 on p. 27 of HWOB Phase I. Determine the Research Problem . (If Necessary, Use Exploratory Research to Define/Refine the Research Problem into Researchable Terms) Step 1. Identify and clarify information needs Think Backwards Marketing Research Do exploratory research to gain insights into research problem, including isolating causes from symptoms, determining unit of analysis, relevant variables (constructs)...
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This note was uploaded on 03/18/2009 for the course MKTG 3350 taught by Professor Engel,stev during the Fall '08 term at Colorado.

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Chap%202%20Hair0 - Overview of Marketing Research Process...

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