MKT 100 Lecture Notes - Lecture 3: Panel Data, Data Warehouse, Data Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Francescucci

Document Summary

Process of gathering data to get information for the purpose of helping companies making better decisions: provides valuable information that help make segmentation, positioning, product, place, price, and promotion decisions. Step 1: define the research problem and objectives. Poor design arises from 3 major sources: basing research on irrelevant research questions, focusing on research questions that marketing research cannot answer, addressing research questions to which the answers are already known. Research objects are driven by business issues that companies want to examine and can use a wide variety of testing methods and inputs. Example: concept testing, central location test, home usage test, restager research, packaging testing, usage and attitude study, live consumer immersion, and focus groups. Important to separate the symptoms of a problem from the actual problem. Example: pria a girl clothing store has decline of sales but after promotion has a lot of sales but then died right after.