COMMERCE 2MA3 Lecture Notes - Lecture 7: Netflix, Vanilla, Tim Hortons

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Yousra Bakr

Document Summary

A set of techniques and principles for systematically: collecting recording. Analyzing interpreting data, that can help decision makers involved in marketing goods, services and ideas. Potential of a new product or service. Growth rate of a new target market. The marketing research process: defining the research problem and objectives. Evaluate the flavor of a newly proposed cookie recipe. Evaluate the effectiveness of a new pricing strategy. Evaluate the quality of our customer service. The nature of the research problem dictates what information we need, and how we are collecting this information: design a research plan. In this step, researchers identify the type of data needed and how it will be collected. Research problem: evaluate the quality of our customer service. Follow up with questionnaires to rate the customer service experience on a number of factors. Data: raw numbers or pieces of factual information that, on their own, have limited value to marketer.