IBM 301 Lecture Notes - Lecture 9: Entscheidungsproblem, Simple Random Sample, Sampling Error

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Chapter 9: Marketing Research
The Role of Marketing Research
Marketing research is the process of planning, collecting, and analyzing data relevant to a
marketing decision
Descriptive: gathering and presenting factual statements
Diagnostic: explaining data
Predictive: addressing “what if” questions
Management Uses of Marketing Research
Marketing research can help managers in several ways:
It improves the quality of decision making
It helps managers trace problems
It can help managers serve their customers accurately and efficiently
It helps managers gauge the perceived value of their goods and services, as well
as the level of customer satisfaction
Steps in a Marketing Research Project
1. Define problem
2. Plan design/primary data
3. Specify sampling procedure
4. Collect data
5. Analyze data
6. prepare/present report
7. Follow up
The Marketing Research Project
Marketing Research Problem
Determining what information is needed and how that information can be
obtained efficiently and effectively.
Marketing Research Objective
The specific information needed to solve a marketing research problem; the
objective should be to provide insightful decision - making information
Management Decision Problem
A broad-based problem that uses marketing research in order for managers to take
proper actions
Secondary vs. Primary Data
Secondary Data: Data previously collected for any purpose other than the one at hand
Primary Data: information that is collected for the first time; used for solving the
particular problem under investigation
Sources of Secondary Data
Internal corporate information
Government agencies
Trade and industry associations
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