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Chapter 7

Chapter 7 Notes ADMS 2200.docx

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Department
Administrative Studies
Course
ADMS 2200
Professor
Kim Snow
Semester
Fall

Description
Chapter 7: Marketing Research, Decision Support Systems, and Sales Forecasting Marketing Research – the process of collecting and using information for marketing decision-making Chapter Objective 1: Describe the development of the marketing research function and its major activities The Marketing Research Function - Research is central to understanding effective customer satisfaction and customer relationship programs Development - First organized marketing research conducted in 1879 - Research methods grew more sophisticated in 1930s - Computer technology has significantly advanced market research Who conducts marketing research? - Size and form research: corporate structure - Many firms outsource research needs Types of research firms - Syndicated Services o Provides standardized data to all customers o E.g. JD Power - Full-Service Research Suppliers o Contracts with clients to conduct complete marketing research projects o E.g. Environics Research Group - Limited-Service Research Suppliers o Specializes in a limited number of research activities o Conducting field interviews or performing data processing - Customer Satisfaction Measurement Programs o Firms often focus on tracking satisfaction levels of current customers o Analyze partial or complete dissatisfaction to identify problem areas that need attention Chapter Objective 2: Explain the steps in the marketing research process 1. Define the Problem a. Well-defined problems are half-solved b. Avoid confusing symptoms with the problem itself 2. Conduct Exploratory Research a. Process of discussing a marketing problem with informed sources both within and outside the firm b. Examining information from secondary sources c. Using internal data i. Sales Analysis – by customer type, sales, method and others ii. Accounting data – information about financial issues iii. Marketing cost analysis – evaluates expenses for a variety of costs 3. Formulate a hypothesis a. Tentative explanation for some specific event b. Sets the stage for more in-depth research 4. Create a research design a. Master plan/model for conducting research b. Ensure it will measure what researchers intend to measure 5. Collect Data a. Secondary Data – Previously published information i. Less expensive to gather than primary data ii. Spend less time to locate and use secondary data b. Primary Data – information collected specifically for the investigation at hand c. Primary costs more to gather but can be more valuable 6. Interpret and present research information a. Present in a format that allows managers to make effective judgments b. Researchers and end users must collaborate to ensure effectiveness c. Reports must be clear and concise Chapter Objective 3:Distinguish between primary and secondary data, and identify the sources of each type Secondary Data collection: - Government data - Private data o E.g. Magazines by subscription - Online sources of secondary data Chapter Objective 4: Explain the different sampling techniques used and identify methods researchers collect primary data Sampling Techniques Sampling – Process of selecting survey respondents or research participants Probability Sample – Sample that gives every member of the population a chance of being selected Nonprobability Sample – Sample that involves personal judgment somewhere in the process - Researchers decide which particular groups to study Primary Research Methods Observation Method: - Researchers view the overt actions of subjects being studied Interpretative Research – customers are observed in their natural setting - Their behaviour is interpreted based on an understanding of social and cultural characteristics - Also known as ethnography or “going native” Survey and Interview Method: - Researches must ask questions
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