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Module 4

5 pages55 viewsWinter 2011

Course Code
MKT 100
Paul Finlayson

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Module 4 Notes Understanding Customer Behavior
Private Information information which you dont want other to know about, such as
insights about the company history, secret recipes or how about its the invention of a
Customer research is used so that companies can find if their customers are satisfied
or dissatisfied
Market Research Process
1.Define the Problem
2.Research design
3.Data collection and analysis and interpretation
4.Present the Results
Types of Research
1.Exploratory Research is when research is conducted before continuing to
undertake further research (a problem/research question is found and research is
needed to solve it)
2.Descriptive Survey Research - used to describe customers, either small numbers
of customers in-depth or large numbers of customers by survey research
Answers who, what, here, when, and why
3.Cross sectional research studies a cross-sectional samples of customer
responses a specific point of time
4.Longitudinal Research - involves repetitive measurement of the same customers
for a long period of time, where the customer response is taken in
5.Cause and Effect Research used to explore the question Does X cause Y?
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What is the reason behind it?
Qualitative Research
Observations, interviews, questionnaire, surveys
Ethnography the way of life with people
Focus group Research
Very common market research method used today by marketers
Consists of 6 to 12 people, focusing on a particular question or issue, for about 2
Involves an independent moderator
Conduct focus group until no new insights surface and should be conducted by
Probability Sampling
Probability sample: sample where all the respondents in the population or segment to be
studied have a known (non-zero) chance of being chosen to be in the sample from the
population/ segment being studied.
Advantage, reduce the potential for sampling error showing up in the results
Generated through computers
Omnibus survey: where several firms participate in a survey
Convenience sample: sample that is gathered from a convenient pool of customers or
potential customers
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