MKBU 3225 Lecture Notes - Lecture 9: Data Analysis, Sales Promotion, Direct Marketing
Document Summary
Nontraditional: digital, social media (as time progresses, will eventually become traditional: public relations, sales promotion/direct marketing. Sales promotion (short term incentive to buy) & direct marketing (catalogs, emails, etc. sent to you) work hand in hand: personal selling, packaging. Market search: market research is collecting data for the moment & is very personal. 3 ways to obtain information: internal data, competitive marketing intelligence, market research, market research. Definition: systematic design, gathering, analyzing & reporting of data in order to solve a problem. Market research steps: define & locate a problem. Should access if the problem is really a problem or if it"s an opportunity. Should be clearly defined & locate where in company (which. Sbu, department, etc. : prepare a pre-research plan. Can be random/exact: exact know name, cell, email, etc. (used for specific & well targeted market) Methodology: how data is collected, collect relevant data. Secondary data: internal sources (ex: customer reports, external sources.