MARK 3000 Midterm: marketing notes test 2 (Autosaved)

• School: University of Georgia
• Department: Marketing
• Course: MARK 3000
• Professor: Sara Kristen Mc Manus

Document Summary

Anticipating and determining the needs and wants of consumers. Marketing research-a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing food, services, or ideas. Helps with segmentation, positioning, and 4 p decisions. Research process-not always in this order, sometimes bounce back and forth between steps: defining objectives and research needs, designing the research, data collection, analyzing data and developing insights, action plan and implantation. Step two: designing research-identify the type of data needed and determine the research necessary to get them. Secondary research-data that already exists-pieces of information that have been collected prior to the research project. Primary research-data that you collect specifically for the task at hand; creating new info-data collected to address specific research needs. External secondary data-government sources, census, syndicated data, etc. Internal secondary data- data business already has-past sales/revenue/purchase.