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ADM2320C Chapter 5 - Marketing research and information

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Ajax Persaud

ADM2320C Chapter 5Marketing Research and Information Systems September2211 100 PM Marketing research a set of techniques and principles for systematic collecting recording analyzing and interpreting data that can aid decision makers involved in marketing goods services or ideas Using marketing information systems to create better value Marketing information systems MIS A set of procedures and methods that apply to the regular yplanned collection analysis and presentation of information that then may be used in marketing decisionsData warehouses large computer files that store millions and even billions of pieces of individual ydataData mining the use of a variety of statistical analysis tools to uncover previously unknown ypatterns in the data stored in databases or relationships among variables The Marketing Research ProcessStep 1 Define the problem and objectivesy a What information is needed to answer specific research questionsb How should that information be obtainedStep 2 Design the research projecty a Secondary data pieces of information that have already been collected from other sources and usually are readily available b Syndicated data data available for a fee from commercial research firms such as Information Resources Inc c Primary data data collected to address specific rese
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