MKT 702 Chapter Notes - Chapter 4: Focus Group, Galvanometer, Tachistoscope

• School: Ryerson University
• Department: Marketing
• Course: MKT 702
• Professor: Warren Wilson

Document Summary

Marketing insights provide diagnostic information about how and why we observe certain effects in the marketplace, and what that means to marketers: good insights often form the basis of successful marketing programs. Marketing research is defined as the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Smaller companies can use the following methods to conduct creative marketing research: engaging students or professors to design and carry out projects, using the internet, checking out rivals, tapping into marketing partner expertise. The problem cannot be to broad or too narrow. To help design the research, management should first spell out the decisions it might face and then work backward. Once specific questions are asked, market researchers are ready to set specific research objectives. This step is where development of the most efficient plan for gathering the needed information and what that will cost.