Chp 8 Marketing Lecture Notes
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| show | (1) what it is, (2) some difficulties in conducting it, and (3) the five steps marketers use to conduct it.
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| show | the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
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| show | reduce the risk of marketing decisions.
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| Five-Step Marketing Research Approach | show 🗑
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| show | Constraints in a decision are the restrictions placed on potential solutions to a problem, such as time and money.
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| show | : (1) setting the research objectives and (2) identifying marketing actions suggested by the research.
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| show | specific measurable goals a decision maker seeks to achieve in conducting the marketing research.
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| What is measures of success | show 🗑
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| show | problem may not be researchable.
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| show | the value of the research results may be seriously lessened.
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| The second step in the marketing research process involves: | show 🗑
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| show | limitations on the time and money available to solve the problem.
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| show | concepts and methods.
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| What are concepts | show 🗑
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| show | a picture or verbal description of a product or service the firm might offer for sal
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| What is methods | show 🗑
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| Methods issues in developing your research plan include: | show 🗑
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| show | sampling and Statistical inference
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| What is sampling | show 🗑
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| show | Involves drawing conclusions about a pop. from a sample taken from that pop. To draw accurate inferences, the sample should be representative of population. If the sample is not typical, bias can be introduced, resulting in bad marketing decisions.
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| What is the difference between secondary and primary data? | show 🗑
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| show | Advantages of secondary data are the time savings and the low cost. Disadvantages of secondary data are that the data may be out of date, unspecific, or have definitions, categories, or age groupings that are wrong for the project at hand.
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