Study_Guide_for_Lecture_8_-_Market_Research_II - Study...

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Study guide for lecture 8: Market Research II Define the problem 0. Identify possible marketing actions 0. What is the decision being made 0. Who is responsible for using the results 1. What are we measuring 1. What is good, what is bad 2. What is the population being studied 2. What action will we take based on the results 3. Who else will be affected by the results 3. Point – This is the most important step.  If you don’t have a clear reason for doing  the research, you are wasting money Develop the research plan 1. Specify constraints 4. How much is the information worth 5. Time 6. Budget 2. Set research objectives 7. Exploratory 4. What are the questions we should be asking 8. Descriptive 5. Answer specific questions 9. Causal 6. Prove it 7. Controlled experiment 10. Research objective 8. Provide information 9. Answer a specific question 11. Management objective Marketing 431 Study Guides © 2009 Lecture 8: Market Research II page 1
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10. Better decisions 11. May require several sources of information Develop the research plan 3. Identify data needed 12. Can we measure what we need to measure 13. How accurate is the information likely to be 14. How difficult will it be to collect the information 12. Cost benefit analysis 15. Concepts 13. Consumers are not good at visualizing something different than what they 
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Study_Guide_for_Lecture_8_-_Market_Research_II - Study...

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