MKT 100 Lecture Notes - Lecture 4: South Beach Diet, Business Ethics, System For Information On Grey Literature In Europe

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Marketing research: a set of techniques and principles for systematically collecting, recording, analyzing and interpreting data that can aid decision makers involved in marketing goods, services or ideas. Helps reduce some of the uncertainty under which they operate. Provides a crucial link between firms and their environments which enable firms to be customer oriented because they build their strategies by using customer input and continual feedback. By constantly monitoring their competitors, firms can anticipate and respond quickly to competitive moves. Ongoing marketing research can identify emerging opportunities and new and improved ways of satisfying customer needs and wants form changes in the external environment. Process: define research problem and objectives design the research plan collect data. Analyze and develop insights present action plan. Step 1: define and research problem and objectives. Difficult because if you define problem incorrectly, you will have the wrong solution even if the rest of the process is done perfectly.