MKT 100 Chapter Notes - Chapter 7: Panel Data, Simple Random Sample, Procter & Gamble

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Brett Barr

Document Summary

If you define the problem incorrectly you will end up with the wrong solution. Important to separate the symptoms of the problem rom the actual problem. Egg clothing store thinks declining sales are a result of low ads. Actually is because clothing is outdated (target market has different tastes now) Identify the type of data needed and determine the type of research necessary to collect it. People don"t al(cid:449)ays tell the (cid:449)hole truth in sur(cid:448)eys, so they (cid:449)ant to see ho(cid:449) people interact (cid:449)ith the store, employees, and product. Data collected to address the specific research needs/questions currently under investigation. Some primary data collection methods include focus groups, in-depth interviews, and surveys. Prices of different ingredients, sales figures, growth or decline in the category, ad spending. Pieces of information that have been collected prior to the start of the focal project. Raw numbers or other factual information of limited value.