Management and Organizational Studies 2320A/B Lecture Notes - Lecture 4: Competitive Intelligence, Simple Random Sample, Management System
25 Oct 2018
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Document Summary
Important to separate symptoms of the problem from the actual problem: step 2: design the research plan. Information- data that has been organized, analyzed, interpreted and converted into a useful form for decision makers: purpose is to describe, explain, predict and/or evaluate a particular situation and then use it to develop insights. Interesting & appropriate to style of audience: short & to the point, methodical, precise, lucid, free of errors, no technical jargon, recommendations, presented to decision makers who undertake appropriate marketing actions and strategies. Loyalty cards: by mining customer data, the churn levels are reduced. Does our research answer the question were trying to answer: sampling- a segment or subset of the population that adequately represents the entire population of interest. 3 important questions as to how you select your sample: Simple random sampling- uses a subset of a statistical population, equal probability of being selected.
