Ch 9 - What is Marketing Research? The process of planning,...

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12/24/10 What is Marketing Research? The process of planning, collecting, and analyzing data relevant to a marketing decision. It is “eyes and ears of a marketer.”
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12/24/10 Marketing Research Studies Products Advertising Prices Packages Names and Logos Services Buying habits Colors Uses Awareness Familiarity New concepts Traffic patterns Wants Needs Politics
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12/24/10 The Roles of Marketing Research Diagnostic Predictive Descriptive u Gathering and presenting factual statements: e.g., historic sales trend, attitude u Explaining: e.g., what was the impact after a change…? u “What if?”: e.g, result prediction
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12/24/10 Marketing Research and Its Importance Why marketing research? þ Improve quality of decision making þ Trace problems þ Focus on keeping existing customers þ Understand changes in marketplace
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12/24/10 The Marketing Research Process Define Problem Plan Design/ Primary Data Specify Sampling Procedure Collect Data Follow Up Analyze Data Prepare/ Present Report 1 2 3 4 5 6 7
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12/24/10 Marketing Research Marketing Research Problem Marketing Research Objective Determining what information is needed and how that information can be obtained efficiently and effectively. The specific information is needed to solve a marketing research problem; the objective should provide insightful decision-making information.
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12/24/10 Secondary Data Data previously collected for any purpose other than the one at hand. * Secondary data is a valuable tool particularly in the problem/opportunity identification stage.
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12/24/10 Sources of Secondary Data Government Agencies Trade and Industry Associations Business Periodicals News Media Internal Corporate Information
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12/24/10 Advantages of Secondary Data
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Ch 9 - What is Marketing Research? The process of planning,...

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