ECON344 Lecture Notes - Liquid Oxygen, Demography Of The United States, General Social Survey
Document Summary
Lo1 describe the five steps in the marketing research process. Lo2 explain the differences between primary and secondary data, and determine when should each be used. Lo3 identify various internal and external secondary data sources. Lo4 describe the various primary data collection techniques. Lo5 discuss ethical issues firms encounter when conducting marketing research. Consists of a set of techniques and principles for systematically collecting, recoding, analyzing and interpreting data that can aid decision makers involved in marketing goods, services or ideas. Why do market research: measure and forecast future demand for your products and services, realistic view of the coming year, allocate needed resources (finite, make business changes proactively instead of reactively. Why is it important to keep the market. Let"s do some research: introduce yourself to someone you have not met before, find out what their favourite animal is, let"s tabulate the results! Kraft ritz chips: watch the video and learn how kraft brought their new product ritz.
