MKT 100 Chapter Notes - Chapter 4: Jargon, Projective Test
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MKT 100 Full Course Notes
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Step 1: define the research problem and objective (define incorrectly, end up with the wrong solution; define the problem correctly, but fail to carry out the rest of the process correctly, the result may be useless or misleading) Poor design arises from 3 major sources (1. Focusing on research questions that marketing research cannot answer, 3. Addressing research questions to which the answers are already known) Identify the type of data needed (determine the market share and assessing the extent to which the firm"s market position will change) Determine the type of research necessary to collect it: secondary data (stats canada) those free data usually not answering the research objective. Projective technique (provide a scenario and ask to express thoughts and feelings) Social media (provide insights into what consumers are saying about the products or its competitor"s products); monitor customers" past purchase and preferences: survey research.
