MKTG 2030 Chapter Notes - Chapter 8: Panel Data, Scientific Method, Financial Statement
3 Mar 2015
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Document Summary
How social media is changing the marketing research game. Social media offers the infinite panel; people are more comfortable expressing themselves in social media across a wider variety of topics. Social media allows marketers to access almost everything on the minds of their customer segments. Social media provides real time results; marketers can discover hidden insights/preferences/unmet needs. Social media allows people to express themselves in their own words. There are mass conversations available for very lost costs. Novel primary research can be conducted through social media. Process of defining a marketing problem/opportunity, systematically collecting and analyzing information and recommending actions to improve an organization"s marketing activities. Research needs to identify and define the opportunities and generate marketing actions. Marketing research is classified on basis of technique or function. Preliminary research conducted to clarify the scope and nature of the marketing problem; gives better understanding of the dimensions of the problem.
