Marketing 1-27

Marketing 1-27 - Chapter 8 Market Research Why do we care...

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Chapter 8 Market Research Why do we care about market research? -Determine marketing objectives -developing 4 p’s -selecting the target market -position your product Slide 2 Top left green = Internal database Top right green = external database Middle ? Middle ? Marketing information system 1. Internal company data: intranet, who is purchasing, what?, how often? Sales reports, internal memos 2. External company data: Marketing environment and competitors. Can include newspapers, marketing pieces, websites, online library resources, govt. resources 3. Market research: formal study to provide unique information on the question or problem at hand. 4. Data analysis or mining: interprets and extracts results inside marketing information system Slide 4 Determine there is a problem Slide 5 Exploratory Research -Qualitative data: results are non numeric. Their gathering detailed verbal or visual information: consumer attitudes, feelings, buying behaviors 1. Consumer interviews: one-on-one, expensive
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Marketing 1-27 - Chapter 8 Market Research Why do we care...

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