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Chapter One and Two
Nature and Planning of Market Research
| Term | Definition |
|---|---|
| Secondary Market Research | Sales records, customer databases, past market research reports |
| Big Data | Fine grained complete documentation of some types of customer behavior. |
| Customer Visits | Used to scan the environment and generate options |
| Focus Groups | Exploring, defining, and generating options |
| Survey Research | Provide a quantitative approach to asking questions of customers. (Interviews provide qualitative approach) |
| Experiments | Test which, among a small number of treatments, stimulates the greatest response. (Highly specific in their contribution to decision making. |
| Conjoint Analysis | Build a model of how a customer makes a choice among various product offerings and thus to identify and quantify choice drivers. |