quiz 1 notes - Marketing Research systematic design...

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Marketing Research - systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization and communicates findings o Links consumer, customer, and public to marketer through information used to identify and define marketing opportunities and problems. Generate, refine, and evaluate, marketing actions to monitor marketing performance and improve understanding of marketing as a process o Consumers don’t know what they want- how to learn what they want without directly asking them o Data integration into meaningful conclusions Marketing Intelligence - process of acquiring and analyzing info in order to understand market, determine current/future needs/preferences, attitudes/behaviors, and assess changes in business environment that may affect size and nature of market in future Marketing research process: preparation takes longer than data collection o Marketing Planning and Information System- provides overall direction and coordination to organization Information System- choosing right database Decision Support System (DSS)- collection of rules/procedures/models for retrieving data from database and transforming it into usable info and disseminating to users to make decisions Planning System- Strategic and tactical plans o Agree on Research Process - series of stages underlying design/implementation of marketing research project Problems or opportunities Decision alternatives Research users o Research Objectives - precise statement of what information is needed Research questions - statements of what specific info required for progress towards achievement of research purpose(shared understanding between manager and researcher) Hypothesis-possible answer to research question Research boundaries - delineation of scope of research study in terms of items such as population characteristics and locations o Estimate Value of Information o Research Design- detailed blueprint used to guide research study towards objective Satisfy sampling plan Design experiment Design questionnaire o Collect, Prepare, and Analyze Data o Report research results and provide strategic recommendations Backwards Marketing Research Process: Start with end conclusion o Talk with manager and together formulate managerial problem o Turn managerial problem into research question o Plan research process-starting from possible outcomes o Write up research proposal- plan for conducting and controlling research project-coherence, detail, flexibility o Execute research Calculate sample size and decide on method Prepare questionnaire Run survey o Analyze data, governed by research question (pragmatic analysis), but flexible enough(NEP vs. actual behavior) o Make up an engaging story to tell the results to manager Process of Marketing Research o Define managerial problem and translate it into research objectives (most important) o Develop research plan for collecting info- start from end o
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