BUS352W Chapter 7: BU_352_Chapter7

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CHAPTER 7 Marketing Research
BU 352 Spring 2016
MARKETING RESEARCH: set of techniques and principles for systematically collecting, recording, analyzing, and I
interpreting data that can aid decision makers involved in marketing
1. Define Problems/Objectives:
research is expensive, must decide wisely
probably the hardest step
how should information be obtained
2. Design Research Plan
identify type of data needed
collection method
3. Collect Data
Primary Data: directly collected for research purposes. (ex. Focus Groups, surveys)
Secondary Data: previously collected info, internal or external (ex. Stats Canada)
4. Analyze Data and Develop Insights
data = raw information, not really useful
information = organized and interpreted data, useful for decision makers
5. Present Action Plan
Prepare and present the results to marketers and decision makers
PRIMARY DATA
SECONDARY DATA
tailored fit
costly
Qualitative or Quantitative
free or inexpensive
internal may not have all the data you need
external may not be specific enough
SCANNER: obtained from checkout scanners
PANEL: collecting info from group over time
QUALITATIVE
QUANTITATIVE
phenomenon of interest, informal
Reliability: will findings be consistent
Validity: does it do what it’s supposed to
Sample: does it properly represent the target
Examples (interviews, observational, social media)
tests predictions and hypothesis
careful or privacy and data collection laws
Examples (survey, experiment, panel, scanner)
ETHNOGRAPHY: observational study of people in their daily life
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