Chapter8- MKT 310

Chapter8- MKT 310 - Chapter 8 Marketing research: is the...

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Unformatted text preview: Chapter 8 Marketing research: is the process of defining a marketing problem and opportunity, systemically collecting and analyzing information and recommending actions. - the broad goal of marketing research is to identify and define both marketing problem and opportunities and to generate and improve marketing actions. Decision: is a conscious choice from among two or more alternatives.- decision making: the act of consciously choosing from alternatives. FIVE STEP MARKETING RESEARCH APPROACH Step 1: define the problem- searching the research objectives- objectives are specific, measurable goals the decision maker- exploratory research provides ideas about a relatively vague problem. - Descriptive research generally involves trying to find the frequency that something will occur or the extent of a relationship between two factors.- Casual research the most sophisticated, tries to determine the extent to which the change in one factor changes another one. Identifying possible market actions:- measures of success: which are criteria or standards used in evaluating proposed solutions to a problem. Step 2: develop the research plan- specify constraints- constraints in a decision are the restrictions placed on potential solutions to a problem.- Identify data needed for marketing actions- Determine how to collect data:- 1) concepts: are ideas about products or services.- New product concept: a picture or verbal description of a product or service the firm might offer for sale.- 2) methods: are the approaches that can be used to collect data to solve all or part of a problem.- Special marketing methods are:- 1) sampling or selected representative elements from a population: probability and non probability sampling- 2) probability sampling: involves using precise rules to select the sample such that each element of the population has a specific know chance of being selected....
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This note was uploaded on 04/07/2008 for the course BMKT 310 taught by Professor Demarco during the Spring '08 term at SUNY Albany.

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Chapter8- MKT 310 - Chapter 8 Marketing research: is the...

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