MKT 100 Chapter Notes - Chapter 4: Panel Data, Projective Test, Web Analytics

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

Document Summary

Describe the five steps in the marketing research process. Explain the differences between secondary data and primary data, and specify when each should be used. Identify various internal and external secondary data sources. Outline ethical issues firms encounter when conducting marketing research. Marketers conduct marketing research, which helps them make better decisions in order to ensure their company"s survival, continued growth, and expansion. Marketing research - a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. It helps reduce some of the uncertainty under which they currently operate. Successful managers know when research might help their decision making and then take appropriate steps to acquire the information they need. Marketing research provides a crucial link between firms and their environments, which enables firms to be customer-oriented because they build their strategies by using customer input and continual feedback.