MCS 2600 Chapter Notes - Chapter 2: Projective Test, Popular Alternative, Customer Satisfaction
Document Summary
Developing research objectives: first and most difficult step in consumer research is accurately defining the objectives of the research. In designing a quantitative study, the researcher may not know what questions to ask, in this case, before undertaking a full-scale quantitative study: conduct a small scale exploratory study. Collecting secondary data: second step in the consumer research process is to search for the availability of secondary data, secondary data is already existing information that was originally gathered for a research purpose other than the present research. Internal secondary data: such information or data could consist of previously collected in-house information that was originally used for some other purpose, companies use internal secondary data to compute customer lifetime value profiles for various customer segments. Include: customer acquisition costs, profits generated from individual sales, costs of handling, and expected duration: external secondary data organization, this type of secondary data comes from sources outside of the firm or, public and government secondary data.