MKT 100 Chapter 4: Marketing Chapter 4 Notes.docx

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

Managers consider several factors before embarking on a marketing research project. Because research is both expensive and time-consuming, it is important to establish in advance exactly what information in required answering specific research questions, and how that information should be obtained. Step 1: define the research problem and objectives: correctly defining the marketing problems is one of the most important elements of the marketing research process. Some marketing researches claim that this aspect is the most difficult of the marketing research process. Marketing research efforts and resources can be wasted if the research objectives are poorly defined. Poor design arises from three major sources: basing research on irrelevant research questions, focusing on research questions that marketing research cannot answer, or addressing research questions to which the answers are already known. However, timely and focused marketing research could help companies refine their marketing efforts and campaigns.