ACC 406 Lecture Notes - Lecture 4: Neuromarketing, Caffeine, Justin Trudeau

• School: Ryerson University
• Department: Accounting
• Course: ACC 406
• Professor: Alison Beavis

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 or ideas. Marketing research is expensive, if these two rules aren"t followed, it"s a waste of money. Research could be a simple analysis on data the firm already has or cost hundreds of thousands and takes months to complete. This is a step by step diagram, may not occur like this, researchers go back and forth. Exampleo if new information is found throughout the process, researchers might go back to realign their plan. When creating a questionnaire, you should consider the data collection process and anticipate all types of analyses that might create a meaningful answer. Open ended questions are hard to classify since every consumer will have a different answer. By planning ahead of time, marketers can avoid these altercations. Addressing questions to which the answers are already known.