MRKT 451 Lecture Notes - Lecture 2: Three Steps, Brand Equity, Quality Control
2 Mar 2018
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Document Summary
If we generate research, then we need to define the problem: most important aspect of marketing research, yet often ignored (and mostly at a great cost). It is critical to understand the management problem and provide specific marketing research objectives that would address it. It is essential to separate the problem(s) from the symptoms. Example: first olympic race: why did one guy win, winning starting position, gives you a lead others can"t match. The research objective needs to be as specific as possible. Ex: saying that your problem is segmentation alone is too broad. Need to be more precise, who do you think the right segment might be: assess managerial situation, clarify symptoms/opportunities, identify list of actionable potential solutions, formulate objectives and hypotheses, get top management buy-in. Hypotheses: concise statements that need to be evaluated. All intelligence activities should be guided by hypotheses. Note: these are still broad problems, must make them more specific (see sub points).
