MARK 201 Lecture Notes - Lecture 3: Neuromarketing, Focus Group, Marketing Intelligence
29 Feb 2016
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Document Summary
Fresh & deep insights into customers needs & wants. Difficult to obtain: not obvious, customer"s unsure of their behaviour. Not derived from more information but better information & more effective use of existing information. Helping decision makers use the information for customers. Information collected from different sources within the company, & stored within the mis. Accounting, operations/production, sales reporting system, past research studies. Systematic collection & analysis of publicly available information about competitors & market developments. Sources: employees, customers, trade shows, websites, marketing communications, suppliers, resellers & professional information services. Exploratory research: assists in defining problems & opportunities. Secondary research, focus group discussions &depth interviews are commonly used. V: step 2: developing the research plan. Descriptive research: used to describe marketing problems, situations, or markets, such as demographic characteristics of markets, attitudes of consumers, & market potential for a product. Causal research: used to test cause & effect relationships between variables of interest, such as experiments.
