MKF1120 Lecture Notes - Lecture 5: Focus Group, Trade Association, Research Question

• School: Monash University
• Department: Business - Marketing - MKF
• Course: MKF1120
• Professor: Peter Wagstaff

Document Summary

Marketing research is the systematic and objective identification, collection, analysis, dissemination, and use of information that is undertaken to improve decision making related to identifying and solving problems (opportunities) in marketing. What is the underlying problem facing the organisation: market potential or market share, market characteristics, forecasting or trends. Research designed to solve problems - informs specific marketing actions: segmentation, product, pricing, promotion, distribution. What is the marketing research process: defining the problem. Discussions with decision makers: interviews with experts, analysis of existing data, from qualitative research (focus group, developing an approach to the problem. Secondary data: consists of information that already exists. Primary data: consists of information collected for the current research purpose. Use secondary data first because it already exists save. Money and time: formulating research design, fieldwork / data collection. Different approaches: personal (1:1 most expensive), telephone, mail, Documented in a written report: research question, approach, research design, data collection and analysis procedures, results, major findings.