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300 Ch7 Notes - Chapter7 ConsumerInsight ResearchTypes...

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Chapter 7 Consumer Insight Marketing Research Process  Research Types Questionnaire Design Sampling Plan Internet Brand and Category Analysis (BDI  and CDI)
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Which one  should I  buy? Consumer Insight  is  perceived  meanings  of data  collected from the  study  of consumer  behavior.
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Consumer Insight data insight Attract Retain
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Consumer Insight …about my brand? Competitor’s  brand? What do customers think… …buy my brand? Why do customers… …consumer expectations? The opportunities? The threats? What are…
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Marketing Research  is the  acquisition and analysis of information  used to identify and define marketing  opportunities  that connect  consumers to  marketers.
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Diagnostic-  Diagnostic-  Explaining data Explaining data Predictive Predictive Descriptive-  Descriptive-  Gathering and presenting factual  Gathering and presenting factual  statements statements Attempting to estimate the  results of a planned marketing  decision Marketing Research Is the process of  planning, collecting and  analyzing  data relevant to a marketing  decision
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Market Research                          Research Where to open  new bakery? How many potential  customers? Why are sales  declining?
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Market Research Make better decisions Monitor  performance Identify opportunities  (and threats) Threat Opportunity
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Management Uses of Marketing Research Improve the quality of decision making Retain customers by better  understanding their needs Understand the changing marketplace The average Fortune 200 company  spends $11.5 million for in-house research
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Uses of Marketing Research Measurement of market potentials Determination of market  characteristics Market share analysis Competitive product studies New-product acceptance Media research Advertising effectiveness
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Marketing Research Studies Products Advertising Prices Packages Names and Logos
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