COMM 296 Chapter 10: Chapter 10 - Marketing Research
Document Summary
A set of techniques and principles for systematically collecting,recording,analyzing and interpreting data that can aid decision makers involved in marketing goods,services or ideas. Allows rm to be customer oriented because they build strategies through customer input and continual feedback. Continual monitoring allows anticipation and quick response to competitor"s actions. Market research utilized by gov"t,ngo and corporate ventures. 5 step marketing plan: de ne the objectives and research needs. Saves time and money as you know in advance what is to be solved. Allows the project to be valued before undergoing: designing the research. Type of data needed is identi ed and the research needed is determined: collecting data. Can be collected by secondary or primary. Primary data - collected to address speci c research needs. Secondary data - pieces of information that have already been collected from other sources and usually are readily available.
