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ch 4 Understanding the Marketplace and Consumers

ch 4 Understanding the Marketplace and Consumers -...

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Understanding the Marketplace and Consumers Chapter 4
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Chapter Objectives Marketing Information and Customer Insights Developing Marketing Information Marketing Research Analyzing Marketing Information
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Customer Insights Fresh and deep insights into customers needs and wants Difficult to obtain Not obvious Customer’s unsure of their behavior Not derived from more information but better information and more effective use of existing information
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Marketing Information System
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Developing Market Information Internal Data Marketing Intelligence Market Research
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Market Research Process
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Types of Research Observational research involves gathering primary data by observing relevant people, actions, and situations Ethnographic research involves sending trained observers to watch and interact with consumers in their natural environment Market research is gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying power.
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ch 4 Understanding the Marketplace and Consumers -...

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