Management and Organizational Studies 1021A/B Lecture Notes - Lecture 8: Mass Marketing, Magnetic Resonance Imaging, Junk Food

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Sarah Ross

Document Summary

Market research: the process of planning, collecting, and analyzing information in order to recommend actions to improve marketing activities, identify consumer needs, determine purchase intent, evaluate new ideas, assess future opportunities. Research classi cations: exploratory research, preliminary research conducted to clarify the scope and nature of a marketing problem, ex. Dupont and women"s panty hose: descriptive research, research designed to describe basic characteristics of a given population or to clarify its usage and attitudes, ex. Purchases of diapers and beer are at a high between 5pm and 7pm: causal research, research designed to identify cause-and-e ect relationships among variables, ex. 6-step market research approach: de ne the problem, issue, opportunity, objectives: speci c, measurable goals that the decision-maker seeks to achieve, ex. Why is our product not selling: this is an important step! Sales reports, pro tability data: external data: from published sources outside of the organization. National tv ratings collected by electronic observational data: ex.