COMM 223 Lecture Notes - Lecture 3: Ceteris Paribus, Spurious Relationship, Shoppers Drug Mart
Document Summary
Marketing research: process of acquiring market info to improve marketing decisions. Firms get marketing research from customers and firm gives 4ps to customers. Dove example: women want to be beautiful in their own unique way. Marketing info systems (mis) info needed by managers can be obtained from: Marketing intelligence: collection and analysis of public info about competitors and developments in the marketing environment (i. e. technological: competitive intel gathering activities have grown, many sources of competitive info exist. The formulation of the problem is often more essential than the solution - albert einstein. Exploratory: insights into general nature of problem, possible decision alternatives, relevant variables to consider: little is known about situation, gain ideas and insight about problem, determine factors/variables may potentially be influential, research outcome: list of potentially influential factors. Descriptive: accurate snapshot of some aspect of market environment ex: age, personality: summary measures, question is clearly defined, characteristics of relevant groups, research outcome: summary measures of characteristics.
