BUS 358 Study Guide - Final Guide: Null Hypothesis, Standard Deviation, Type I And Type Ii Errors
17 Dec 2017
School
Department
Course
Professor
Document Summary
Focus groups= an unstructured free flowing interview with a small group (6-10) people. Advantage: fast, easy to execute, allow respondents to piggyback off each other, multiple perspectives, flexibility. These people have to be relatively homogeneous, similar lifestyle and experience. Has a moderator, a person who leads a focus group. Start with broad questions, then go increasingly more specific as the interview proceeds: research questions. Marketing research objective = the goals to be achieved by conducting research. Developing and implementing a marketing strategy involves four stages: 1. identifying and evaluating market opportunities- monitoring the competitive environment. 3. planning and implementing a marketing mix that will provide value to customers and meet organizational objectives- product research, pricing research, distribution research, marketing research, Marketing research is for a foundation- answering basic questions like consumer segments, testing- new concepts, issues- impact on firm, performance- which metrics are critical in real time. If the data quality is wrong, then you are going to have problems ex.
