ADM 2320 Chapter Notes - Chapter 7: Data Mining, Panel Data, Projective Test
16 Oct 2017
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Document Summary
Marketing research is a set of techniques and principles for systematically collecting, recording, analysing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. Marketing research is key for understanding topics like b2b, global marketing, branding, etc. The marketing research process consists of five steps. Step 1 - define the research problem and objectives. If research is done, but it cannot be used it will be a huge waste of money and time. Once the research problem is defined, marketers must specify the research objectives or the questions to be answered. Poor objectives can come from three different sources. Focusing on research questions that marketing research cannot answer. Addressing research questions to which the answers are already known. This is where the researchers identify the type of data needed and determine the type of research necessary to collect it. Based on the design of the project, data can be collected from secondary or primary sources.
