Management and Organizational Studies 2320A/B Chapter 7: Marketing Research

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

Marketing research is a key prerequisite to successful decision making. Marketing research: 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. Marketing research can provide valuable information that will help them make segmentation, positioning, product, place, price and promotion decisions. Important to establish in advance what problem needs to be solved. Define research problem and objectives design the research plan collect data analyze data and develop. Correctly defining the problem is one of the most important elements of the marketing research process. Once problem is defined, must specify the research objectives or questions to be answered. Researchers identify the type of data needed and determine the necessary research to collect it. Determine type of research necessary to collect the data. Project objectives that drive the type of data needed. Data collection begins only after the research design process.