MKT 100 Lecture Notes - Lecture 4: Projective Test, Consumerism, Panel Data

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

Marketing research is a key prerequisite to successful decision making. It consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. It"s ke(cid:455) to u(cid:374)de(cid:396)sta(cid:374)di(cid:374)g topi(cid:272)s su(cid:272)h as b2b (cid:271)u(cid:455)i(cid:374)g (cid:271)eha(cid:448)iou(cid:396), glo(cid:271)al (cid:373)a(cid:396)keti(cid:374)g a(cid:374)d cultural differences, new product development, branding, and customer services, and for assessing the effectiveness of pricing, promotions, and product and service delivery techniques. Although the stages of the marketing research process ae shown as a step-by-step p(cid:396)og(cid:396)essio(cid:374), (cid:396)esea(cid:396)(cid:272)h does(cid:374)"t al(cid:449)a(cid:455)s happe(cid:374) this (cid:449)a(cid:455). So(cid:373)eti(cid:373)es, (cid:396)esearchers go back and forth from one step to another as the need arises. Step 1: define the research problem and objectives. It"s i(cid:373)po(cid:396)ta(cid:374)t to esta(cid:271)lish i(cid:374) ad(cid:448)a(cid:374)(cid:272)e e(cid:454)a(cid:272)tl(cid:455) (cid:449)hat p(cid:396)o(cid:271)le(cid:373) (cid:374)eeds to (cid:271)e sol(cid:448)ed (cid:271)e(cid:272)ause research is both expensive and time consuming. Some marketing researchers claim that this aspect is the most difficult of the marketing research process.