1003MKT Lecture Notes - Lecture 3: Google Analytics, Neuromarketing, Marketing Week
30 May 2018
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Marketing Week 3 Lecture notes
Market research
• An activity that discovers information of use in making business decisions
• Market research is an essential component of understanding the market, and the
macro and micro environments
• Market research informs many things e.g.
o Website usage (e.g. google analytics)
o Behaviors
o Attitudes
o Market segmentation
A Marketing information system (MIS)
4 Types of research data
• 1.Secondary data: data that already exists, but was gathered for another purpose,
e.g. trade agazies
• 2.Primary data: original data that is collected specifically for the current research
problem.
o Common methods include surveys and focus groups
• 3. Quantitative data: research based on numbers or percentages
o Answers aspects of who, what, when, where, how, people buy (but not Why)
o Surveys are the most common quantitative tool
o Quantitative research also includes experimentation, observation, and
neuromarketing
• 4. Qualitative data: Research based on words (mainly), about WHY people think,
believe or feel a certain way about the topic being studied- its qualities or
characteristics
o qualitative research methods include focus groups, 1 to 1 (individual)
interviews, and projective techniques
o big firms use both Quant and Qual research
find more resources at oneclass.com
find more resources at oneclass.com
