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AEM 240 9.11 - Tells what not why o Personal or mechanical...

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9/12/07 AEM 240 Buzz Marketing CEO Mark Hughes speaks about BuzzMarketing in a CNN interview How ethical are the buzz generation approaches? Marketing Research Approach 4 stages Define the problem o Set research objectives o Identify possible marketing actions Develop the research plan o Specify constraints o Identify data needed for marketing actions o Determine how to collect data Collect relevant info by specifying what kind of data is being sought out o Secondary data- industry/market studies, trade associations, business press, company directories, government (census bureau!) Good news: cheap and quick Bad news: quickly obsolete, collected for different purposes (not specific for your needs) o Primary data- Observation method
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Unformatted text preview: Tells what, not why o Personal or mechanical observation Experimental method • Test marketing • Simulated testing • Develop findings o Analyze data o Present findings The Tesco Way • 84.9 billion in sales • Largest food retailer in the UK o One of asian leaders o 5 different types of stores o Experts in market research, collecting data for 10 years Best loyalty card in world o Growth slowing (cash cow) • Tesco around the world The New Growth Opportunity? • Objective: “To build the perfect store for the American consumer in the 21 st century” • Stores planned in California, Nevada, and Arizona • Spent over 20 years researching Americans o LOOK AT NOTES FOR TESCO STORY...
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