MARK 3000 Chapter Notes - Chapter 10: Likert Scale, Diet Pepsi, Uptodate

• School: University of Georgia
• Department: Marketing
• Course: MARK 3000
• Professor: Grantham

Document Summary

Marketing research: set of techniques and principles for systematically collecting, recording, analyzing & interpreting data that can aid decision makers involved in marketing goods/services/ideas. Nielsen company (largest us based marketing research firm) Why do marketers find research so helpful: reduces uncertainty, provides crucial link between firms and their environments enabling them to be customer oriented (building strategies using customer input & continual feedback) Considerations before embarking on market research project: will it be useful/provide deeper insight than we already know, should market research be big or small. Is management committed enough: defining objectives and research needs, designing the research, data collection process, analyzing data and developing insights, action plan and implementation. Complexity of project depends on available time/resources & amount of in-depth knowledge. Important to establish in advance what problems need to be solved needed. Assess value of a project through comparing benefits of answering some of their questions & costs associated with the research.