BU352 Lecture Notes - Verbal Behavior, Consumer Privacy, Data Mining
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. Why is research so important to marketers: helps reduce some uncertainty in their operations. Research help in decision making, help find info that they need: provides link between firms and their environments. Allows firms to be customer oriented and build strategies with customer input: firms can respond quickly to competitors moves. They are constantly researching competitor: can identify emerging opportunities and new and improved ways to satisfy customers" needs and wants. Market research is useful for not for profits and government too. A set of procedures and methods that apply to the regular, planned collection, analysis, and presentation of information that then may be used in marketing decisions. Way to routinely accumulate info from internal and external sources so that the organization can have more informed decision making.
