MarketingUnit2Midterm

MarketingUnit2Midterm - Marketing Unit 2 Midterm 03:49...

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Unformatted text preview: Marketing Unit 2 Midterm 03:49 Marketing Research a process of collecting and using information for marketing decision making Three basic services marketing and research can offer: Syndicated services o Standardized set of data to all customers o Used by companies selling packaged goods, grocery/drug companies Full service research suppliers o Marketing research that contracts with clients that conduct complete marketing research projects Limited service research suppliers o Research companies that are specialized in selected activities: Phone interview Data process Focus groups Marketing research process Step 1: Define the problem Problem: o Cant dig any deeper Symptom: o Can dig deeper Step 2: Conduct Research Informal investigation Internal data Step 3: Formulate Hypothesis Step 4: Research Design Series of decisions that when taken together, comprise a master plan or model for conducting marketing research Step 5: Collect Data Primary data o Data collected specifically for marketing research Secondary data o Data previous published/compiled Step 6: I nterpret and Present Research Information Marketing Research Methods Secondary Data Collection o Government data o Private Data o Online sources of secondary data Web based research Sampling techniques o Sampling Population Total group being studied Census Collection of data on population o Probability sample Sample that gives every person in the population a chance of being selected Simple random equal opportunity Stratified sample randomly selected subsamples, useful in polls Cluster sample sampling subgroups o Non probability sample Arbitrary grouping that produces data unsuited for most standard stat test Convenience sample sample of people who just happened to be in the sample area, useful in malls Quota sample hand pick participants, 6 Honda, 2 Volvo, 3 Hyundai Primary Research Methods Observation method: View watch research subjects o Interpretive research Watch then behave, interpret their behaviour using social and cultural characteristics of the setting Survey and I nterview Methods o Telephone Interviews o Personal Interviews o Mail Surveys o Focus Groups Brings 8-12 individuals together to discuss a given subject o Online surveys Experimental Method o Research where researcher manipulates test groups and compares results with control groups Computer Technology in Marketing Research Marketing information systems (MIS) o Constantly giving them information Marketing Decision Support System (MDSS) Creates models that illustrate likely results of changes in marketing conditions Data Mining Detecting patterns through large databases Efficient way to make sense of a huge amount of data Business Intelligence Gather info to improve business strategy Competitive Intelligence Finding info on competitors using published sources Sales Forecasting...
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MarketingUnit2Midterm - Marketing Unit 2 Midterm 03:49...

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