ECON344 Chapter Notes - Chapter 3: Focus Group, Jargon
3 Sep 2014
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Describe the five steps in the marketing research process. Explain the differences between primary and secondary data, and determine when should each be used. Identify various internal and external secondary data sources. Describe the various primary data collection techniques. Discuss ethical issues firms encounter when conducting marketing research. Marketing research: consists of a set of techniques and principles for systematically collecting, recoding, analyzing and interpreting data that can aid decision makers involved in marketing goods, services or ideas. 3 major poor design: basing research on irrelevant research questions, focusing on research questions that marketing research cannot answer, addressing research questions to which the answers are already known: research objective are important to be define. To determine if there is a market of 12% interested in biodegradable. To determine if there is potential profit. To determine the % of the need & perception. In-depth interview: focus group, survey, observing customer behaviour, books.
