MKTG 2800 Chapter Notes - Chapter 8: Statistical Inference, Contingency Table, Data Mining
5 Jul 2017
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Ch 8 marketing research: from customer insights to actions. Marketing research- the process of defining a market problem and opportunity, systematically collecting and analyzing information and recommending actions. They conduct marketing research to reduce the risk of and thereby improve marketing decisions. Decision- conscious choice from among two or more alternatives. Measures of success- criteria or standards used in evaluating proposed solutions to the problem. Step 2: develop the research plan: specify the constraints on the marketing research activity, identify the data needed for marketing actions, determine how to collect the data. Constraints- in a decision are the restrictions placed on potential solutions to a problem. New product concept- picture or verbal description of product or service the firm might offer to sell. Methods- the approaches that can be used to collect data to solve all or part of a problem.
