MCS 1000 Lecture Notes - Lecture 11: Royal Irish Academy, Global Sources, Dependent And Independent Variables

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Marketing research: process of de ning a marketing problem or opportunity, collecting & analyzing information then recommending actions to improve marketing activities. 1 reduces risk & uncertainty increases likelihood of successful marketing decisions used with executives experience & intuition to take out some guess-work. Types of marketing research: 3 categories that describe nature of problem. Problem de nition: initial step of marketing research to properly de ne scope & nature of research based on incorrect problem de nition will waste resources if problem is clear chances of collecting crucial info to solve issue is increased problem. Exploratory research: most researchers will conduct exploratory research during early. Formal research design: researcher produces a plan that outlines method/procedures to collect & analyze the required information. Using a marketing information system to trigger marketing actions surveys of distributors are also important. There"s no optimal research design ability to select more appropriate way(s) to research & recognize value with time & money.