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Prelim1 study - -Step 3 collect relevant information...

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Chapter 8 Marketing Research: From Customer Insight to Actions The Role of Marketing Research What is Marketing Research? -the process of defining a marketing prob and oppprtunity, systematically collecting and analyzing info, and recommending actions 5-step Marketing Research Approach to Making Better Decisions -Step 1: define the problem Set research objectives o Exploratory, descriptive, causal research Identify possible marketing actions -Step 2: develop the research plan Specify constraints Identify data needed for marketing actions Determine how to collect data -concepts, methods (sampling, probability sampling, stat inf)
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Unformatted text preview: -Step 3: collect relevant information Secondary data: internal/external Primary data: Mechanical Observation Personal Observation Idea generation methods (interviews, focus groups) Idea Evaluation methods (testing…surveys) panels-sample of consumers from which researchers take series of measurements experiments- test markets, drivers (IV)-Step 4: develop findings Analyze the data Present the Findings-Step 5: Take Marketing Actions Make Action recommendations Implement the action recommendations Evaluate the results-evaluate decision itself, and decision process used...
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