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Chapter 3

BU352 Marketing Chapter 3

4 Pages

Course Code
ECON 344
Deborah Reyner

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BUSWeek 3Sep252012Chapter 4 Marketing ResearchDescribe the five steps in the marketing research processExplain the differences between primary and secondary data and determine when should each be usedIdentify various internal and external secondary data sourcesDescribe the various primary data collection techniquesDiscuss ethical issues firms encounter when conducting marketing researchMarketing Research Consists of a set of techniques and principles for systematically collecting recoding analyzing and interpreting data that can aid decision makers involved in marketing goods services or ideas Marketing Research ProcessDefine Research Problem and ObjectivesDesign the Research ProjectCollect DataAnalyze DataPresent Action PlanStep 1 Defining the Objectives and Research NeedsWhat information is needed to answer specific research questionsUse SMART objective analysisHow should that information be obtained3 major poor design basing research on irrelevant research questions focusing on research questions that marketing research cannot answer addressing research questions to which the answers are already knownResearch objective are important to be defineEx Biodegradable for PetsTo determine if there is a market of 12 interested in BiodegradableTo determine if there is potential profit To determine competitorsTo determine theof the needperceptionStep 2 Designing the Research ProjectExamplesAdvantageDisadvantageFocus groupSpecificimmediate Expensivedata needsIndepth interviewTime consumingPrimary Trustworthy SurveyToo costlyresearchFit exactly the Observing customer research databehaviourSecondarBooksCheaperMight not relevanty research1
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