COMMERCE 3MC3 Lecture Notes - Lecture 7: Target Market, Mystery Shopping, Data Mining
3 Nov 2017
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Collect data in a way that is valid and reliable. Make sure the budget is set and timelines are placed. Step 1l define the research problem & objectives. Options made available, pricing, food purchasing habits, dietary restrictions, locations. Internal data: locations of the food places on campus. External: (inside of menu) satisfaction of the food. Prepare the results: executive summary, no more then 10 pages, body of the report (objectives, methodology, findings, key recommendations, what will happen if the report is implemented, conclusions, supplemental tables/appendices. Present the results interesting and appropriate to style of audience: short & to the point, no technical jargon, recommendations. External secondary data sources: scanner data a type of quantitative research that uses data obtained from scanner raadings of upc codes at checkout counters. Panel data: recorded transactions in a diary in the past, 6 months-1year, marketers would analyze the transaction, for the researcher, primary data, for the person buying data, secondary data.
