MCS 1000 Chapter Notes - Chapter 8: Neuromarketing, Scientific Method

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Bonifacio

Document Summary

Chapter 8 marketing research: from information to action. Marketing research: is the process of defining a marketing problem or opportunity, systematically collection and analyzing information, and recommending actions to improve and organization"s marketing activities. Marketing research attempts to identify and define both marketing problems and opportunities and to generate and evaluate marketing actions. Marketing research can reduce risk and uncertainty, to increase the likelihood of success of marketing decisions. When conducted right marketing research can help solve marketing related problems that an executive might have. Exploratory research is preliminary research conducted to clarify the scope of nature of the marketing problem. Exploratory research is generally carried out to provide the researcher with a better understanding of the dimensions of the problem. Descriptive research is research designed to describe the basic characteristics of a given population or to profile particular marketing situations.