MKTG 471 Chapter Notes - Chapter 6: Dependent And Independent Variables
19 May 2018
School
Department
Course
Professor
Marketing 471 - Research and Info Systems
Marketing Research
The systematic design, collection, interpretation and reporting of information to
help marketers solve specific problems or take advantage of opportunities
Gathering information not currently available
Marketing research purpose is to inform organization about
1. Customer needs and desires
2. Marketing opportunities for products
3. Changing attitudes and purchase patterns of customers
Benefits of Marketing Research
Facilitate strategic planning
Opportunities and threats
Ascertains potential for success
Helps determine feasibility of strategy
Improves ability to make decision
Types of research involve two forms of data
Qualitative and Quantitative
Two types of research
Exploratory or conclusive
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Document Summary
The systematic design, collection, interpretation and reporting of information to help marketers solve specific problems or take advantage of opportunities. Marketing research purpose is to inform organization about: customer needs and desires, marketing opportunities for products, changing attitudes and purchase patterns of customers. Types of research involve two forms of data. Empirical information that can be communicated through numbers. Gather more information about a problem or make a tentative hypothesis more specific. Better understand a problem or situation and identify additional data needs. Small groups of actual customers who serve as sounding boards for new product ideas and offer insights on feelings and attitudes about product and marketing strategy. Study in which small group of 8-12 people are interviewed informally without a structured questionnaire, observe interaction when exposed to a concept. Designed to verify insights through objective procedures to help marketers in making decisions. One or more alternatives in mind and need assistance in final stages of decision making.
