BUS 346 Chapter Notes - Chapter 10: Panel Data, Big Data, Neuromarketing
Document Summary
Lo 1: identify the five steps in the marketing research process. Marketing research consists of 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. Provides valuable information that will help marketing managers make segmentation, positioning, product, place, price, and promotion decisions. Step 1: defining the objectives and research needs. Because research is both expensive and timely, it is important to establish in. Once the info needed to be addressed is determined, the next step is to design a advance what problem needs to be solved research project to meet those objectives. Data can be collected from secondary or primary sources. Researches identify the type of data needed and determine the research. Step 2: designing the research necessary to collect them. Secondary data are pieces of information that have already been collected from other sources and usually are readily available.
