BU352 Chapter Notes - Chapter 4: Personal Information Protection And Electronic Documents Act
Document Summary
Marketing research techniques and principles for collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. It can provide valuable info that will help them make segmentation, positioning, 4p"s decisions. It helps reduce some uncertainty under conditions they operate under; attain appropriate info to make better decisions. Provides crucial link between them & their environments; customer-oriented b/c they build strategies based on customer input. Constantly monitoring competitors so that they can respond quickly. Identify opportunities/new and improved ways of satisfying consumer needs and wants from changes in the external environment. In advance know what info is required and how to obtain it. If results aren"t useful it is a waste of money and time: choose method that will provide info needed at lowest cost. The marketing research process in 5 steps: Step 1: define the research problems and objectives. Once problem is defined, objectives need to be specified.
