Chapter 8 Notes

Chapter 8 Notes - Marketing Research: From Information to...

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Marketing Research: From Information to Action The Role of Marketing Research We can describe what marketing research is, some of the difficulties in conducting it, and the four steps marketing executives can use in conducting marketing research. Marketing Research: the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions. Step 1: Define the Problem When defining the problem, researchers have to set the research objectives and identify possible marketing actions suggested by the research. a. Set the Research Objectives Objectives: are specific, measurable goals the decision maker seeks to achieve in solving a problem b. Identify Possible Marketing Actions Measures of Success: criteria or standards used in evaluating proposed solutions to the problem Step 2: Develop the Research Plan This step involves defining what data is needed for the marketing decision, and how to get the data. a.
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Chapter 8 Notes - Marketing Research: From Information to...

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