Oct 5 - Marketing Research, Part II

Oct 5 - Marketing Research, Part II - Marketing Research,...

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Marketing Research, Part 2 October 5, 2009 Instructor: Tamar Milne
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Agenda Early feedback summary Marketing research process Step 1: Problem definition Exploratory research Step 2: Research design Secondary and primary data For next class. .. 2
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Marketing Research Process 3 Problem definition Research design Data collection Analysis Presentation/Report
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Step 1: Problem Definition Know how you will use the information before you collect it Costs vs. benefits What information do we need? “Necessary”, not just “interesting” Don’t confuse symptoms with the issue Formulate a hypothesis , a tentative explanation for the issue Clarifies what should be researched 4
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Exploratory Research Informal research to help frame a problem or develop a hypothesis for testing Sources of information: Informed internal, external sources (e.g. staff, suppliers, wholesalers, retailers, customers) Company records (e.g. Cost reports, sales records, financial statements, profit analyses) Competitive data 5
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Oct 5 - Marketing Research, Part II - Marketing Research,...

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