Management and Organizational Studies 1021A/B : Market Research and Segmentation.docx

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Meaghan Ross

Document Summary

Market research - the process of planning, collecting, and analyzing information in order to recommend actions to improve marketing activities. Idea : identify consumer needs, determine purchase intent, evaluate new ideas, assess future opportunities, can reduce the risk and uncertainty of poor business decisions, providing managers with facts. Exploratory research preliminary research conducted to clarify the scope and nature of a marketing problem: dupont manufactured women"s pantyhose before but sales were not successful researched what the brand dupont meant to consumers to find out. Descriptive research research designed to describe basic characteristics of a given population or to clarify its usage and attitudes: seeking more conclusive data and answers to problems, try to understand characteristics of target market. Personal more detailed but expensive/costly/time consuming. Telephone quick/cheap/random but low response rates/can bias. Mail no interviewer bias/affordable/national but low response/slow. Lays people felt less guilty eating chips from a matte bag with a potato on the front of it.