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MKTG

MKTG. 9. CHAPTER. Marketing Research. Gathering and presenting factual statements. Descriptive. Diagnostic (Exploratory). Explaining data. “What if?”. Predictive (Causal). Marketing Research Types. LO 2. The Marketing Research Process. Define Problem. Plan Design/ Primary Data.

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MKTG

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  1. MKTG 9 CHAPTER Marketing Research

  2. Gathering and presenting factual statements Descriptive Diagnostic(Exploratory) • Explaining data • “What if?” Predictive(Causal) Marketing Research Types LO2

  3. The Marketing Research Process Define Problem Plan Design/ Primary Data Specify Sampling Procedure Collect Data Analyze Data Prepare/ Present Report Follow Up LO3 1 2 3 4 5 6 7

  4. Marketing Research Marketing Research Problem Determining what information is needed and how that information can be obtained efficiently and effectively. Marketing Research Objective The specific information needed to solve a marketing research problem; the objective should provide insightful decision-making information. Management Decision Problem A broad-based problem that requires marketing research in order for managers to take proper actions. LO3

  5. Types of Data Data previously collected for any purpose other than the one at hand. Sources:Internal vs. External LO3 Secondary Data Primary Data Information collected for the first time. Can be used for solving the particular problem under investigation.

  6. Secondary Data LO3 Advantages • Saves time and money • Aids in determining direction for research • Identifies the right people for research • Can compare to other data Disadvantages • May not give enough information • May not be on target with the research problem • May not be accurate (poor quality data)

  7. Primary Data LO3 Advantages • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained Disadvantages • Expensive • Quality declines if interviews are lengthy • Reluctance to participate in lengthy interviews

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