MKT 100 Chapter Notes - Chapter 7: Data Analysis, Léger Marketing, Focus Group

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

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. The marketing research function links firms and organizations to their customer through data. By collecting data from customers, firms can better deliver products and services designed to meet their needs. Firms invest millions of dollars each year in research and is used by all firms including corporations, retailers, non-profit organizations and governments. The marketing research process consists of 5 steps sometimes researchers go back and forth from one stop to the other as the need arises. By planning the entire research process well in advance of starting the project, researchers can avoid unnecessary alterations to the research plan as they move through the process. Step 1: define the research problem & objectives. Because research is both expensive and time consuming, it is important to establish in advance exactly what problem needs to be solved.