MKT 100 Chapter Notes - Chapter 4: Infor, Data Analysis, Jargon

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Paul Gillespie

Document Summary

Marketing research is a set of techniques and principles for systematically collecting, recording, analyzing & interpreting data that can aid decision makers involved in marketing goods, services & ideas. Because research is both expensive & time consuming, its important to establish in advance exactly what info is required to answer specific research questions & how that info should be obtained. Pieces of info that have been collected prior to start of the project, includes both internal & external sources; may be free/ inexpensive. Data collected to address specific research needs/questions currently under investigation. Syndicated data: data available for a fee from commercial research firms; used when other secondary data sources isn"t adequate to address rq. Saves time in collecting data because they are readily available. Info may not be precisely relevant to info needs. Info may not be as timely as needed. Sources may not be original, thus usefulness is an issue.