MCS 1000 Study Guide - Final Guide: Sales, Takers, Job Analysis

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

In order to gather relevant information to support the marketing process, firms engage in a formal process that aims to answer specific questions and hypotheses about consumers and markets. In marketing research, the data is classified as secondary data and primary data. Secondary data includes the pieces of information already gathered or collected for a previous project or projects either similar or different from the proposed/current target question(s). On the other hand, primary data includes pieces of information collected for a specific or a target project. Both types of data have pros and cons. As primary data is specifically collected for the current project, marketing managers need to get more involved in the process. Typically, the marketing research is commissioned to a research firm that specializes in this process. We can get a deeper understanding of the consumer. However, when the researcher interacts with the consumers during data collection, we may introduce biases.